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Summary
- BlackRock said it bought 9,619 Bitcoin and 46,851 Ethereum over the past three trading days, deploying about $1.027 billion.
- It added that a significant portion of crypto liquidity flowing in early this year is coming through BlackRock, with spot-based buying continuing.
- It said that despite Bitcoin and Ethereum prices falling about 2.18% and 4%, respectively, BlackRock and Strategy have continued to buy, and market monitoring of on-chain fund flows is expected to persist.
BlackRock, the world’s largest asset manager, has recently made large-scale purchases of Bitcoin and Ethereum over the past three days, underscoring its presence in institutional flows within the crypto market. Even amid heightened market volatility, spot-based buying continued, drawing attention to the fund flows themselves.
According to a report by CryptoNews on the 8th, BlackRock bought 9,619 Bitcoin and 46,851 Ethereum over the last three trading days. On-chain analytics account LookOnChain estimated the holdings’ value at about $1.027 billion.
In detail, BlackRock purchased 3,948 Bitcoin on Jan. 6 alone, worth about $371.89 million. The same day, it also bought an additional 31,737 Ethereum, estimated to be worth about $100.23 million. A significant portion of the crypto liquidity that has flowed in early this year is coming through BlackRock.
This buying trend 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 around $3,142.
Previously, during the year-end holiday period, BlackRock transferred 1,134 Bitcoin and 7,255 Ethereum to Coinbase Prime. At the time, some in the market raised speculation about potential selling, but the resumption of spot purchases has also led to views that focus on the fund flows themselves.
Meanwhile, Strategy, led by Michael Saylor, bought an additional 1,287 Bitcoin over the same period, increasing its total holdings to 673,783. As major institutions and companies continue to buy and hold, market monitoring of on-chain fund movements is expected to continue for the time being.
