BlackRock buys more than $1bn worth of Bitcoin*Ethereum over three days
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Summary
- The world’s largest asset manager BlackRock bought 9,619 Bitcoin and 46,851 Ethereum over the past three days, resulting in fund flows estimated at about $1.027bn.
- Despite heightened market volatility, spot-based buying continued, with a significant share of digital-asset liquidity entering at the start of the year flowing through BlackRock.
- Over the same period, Strategy also bought an additional 1,287 Bitcoin, raising its total holdings to 673,783, and continued monitoring of on-chain fund flows is expected as major institutions and companies keep buying and holding.
BlackRock, the world’s largest asset manager, has made a sizeable purchase of Bitcoin and Ethereum over the past three days, underscoring its presence in institutional flows within the digital-asset market. The continued spot-based buying is drawing attention to the flow of funds itself even as market volatility has increased.
According to a Jan. 8 report by CryptoNews, BlackRock bought 9,619 Bitcoin and 46,851 Ethereum over the past three trading days. On-chain analytics account LookOnChain estimated the holdings at about $1.027bn.
Breaking it down, BlackRock bought 3,948 Bitcoin on Jan. 6 alone, worth about $371.89m. It also purchased an additional 31,737 Ethereum the same day, estimated at around $100.23m. A significant share of digital-asset liquidity flowing in at the start of this year is coming through BlackRock.
The buying trend, however, somewhat diverges from price action. Based on CoinMarketCap data, Bitcoin is trading around $90,730, down about 2.18% over the past 24 hours, while Ethereum is down nearly 4% at about $3,142.
Earlier, during the year-end holiday period, BlackRock transferred 1,134 Bitcoin and 7,255 Ethereum to Coinbase Prime. Some in the market at the time raised the possibility of selling, but the resumption of spot purchases has also led some to focus on the fund flows themselves.
Meanwhile, over the same period, Strategy, led by Michael Saylor, bought an additional 1,287 Bitcoin, lifting its total holdings to 673,783. As major institutions and companies continue to buy and hold, the market is expected to keep monitoring on-chain fund movements for the time being.
