Mr.Abrash

06/11 04:25

BlackRock bought Bitcoin and Ethereum for $350 mil

BlackRock bought Bitcoin and Ethereum for $350 million

BlackRock is taking another bold step into digital assets, quietly expanding its crypto portfolio with significant purchases of Bitcoin and Ethereum.

Onchain data reveals that the company recently added 2,704 BTC and over 28,000 ETH – a total of these assets valued at more than $350 million.

The build-up comes as BlackRock’s flagship crypto product, the iShares BTC Trust (IBIT), continues to grow. With more than $72 billion in assets in less than a year and a half, IBIT is now among the 25 largest ETFs in the world. Its meteoric rise has been accompanied by inflows that rival some of the most successful ETFs in history — $15.5 billion in the first quarter alone, according to Bloomberg’s Eric Balciunas.

Meanwhile, institutional demand for regulated crypto exposure is spreading beyond the U.S. borders. Russia’s main stock exchange, MOEX, will launch Bitcoin futures contracts directly linked to BlackRock’s IBIT ETF. Launching on June 4, the offering will be limited to accredited investors, giving local institutions the ability to track BTC’s price performance without owning the asset themselves.

As the world's largest asset manager continues to expand its presence in the digital asset space, BlackRock is strengthening its position as a key bridge between traditional financial markets and crypto markets.

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