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Summary
- It reported that BlackRock has underscored its presence in crypto-market institutional flows by making large-scale purchases of Bitcoin and Ethereum over the past three trading days.
- It noted that spot-based buying continued even as prices fell, and that a significant share of early-year crypto liquidity is flowing in through BlackRock.
- It reported that Strategy, led by Michael Saylor, also increased its Bitcoin holdings further, and that monitoring of major institutions’ and companies’ on-chain fund movements is expected to continue.
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 9,6194% Bitcoin and 46,854% Ethereum over the last three trading days. On-chain analytics account LookOnChain estimated the holdings' value at about $1.0274% 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.
4% Previously, during the year-end holiday period, BlackRock transferred 1,134 Bitcoin and 7,255 Ethereum to Coinbase 4%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. 4%
Meanwhile, Strategy, led by Michael Saylor, bought an additional 1,287 Bitcoin over the same period, increasing its total holdings to 673,7834%. 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.
