Bitcoin
BlackRock's crypto portfolio swells $3.7bn since July with Ethereum focus
BlackRock's cryptocurrency holdings increased over $3.7 billion since early July, with onchain data suggesting a shift from Bitcoin to Ethereum positions.
BlackRock's cryptocurrency portfolio expanded by more than $3.7 billion from July 1 to August 6, though the composition shifted notably between its Bitcoin and Ethereum ETFs. The iShares Bitcoin Trust (IBIT) recorded a decline of 3,710 BTC, falling from 743,190 coins to approximately 749,480, according to Arkham Intelligence. Conversely, the iShares Ethereum Trust (ETHA) registered an increase of 196,340 ETH during the same period, with holdings climbing from 2.77 million to around 2.97 million ETH.
Despite the Bitcoin outflow, the value of BlackRock's BTC holdings climbed $2.67 billion to reach $47.35 billion, reflecting a 6.5% price appreciation in Bitcoin from $60,128 to over $64,037 across the period. BlackRock's Ethereum holdings, valued at $5.54 billion by late August, grew by $1.08 billion over the 37-day window as ETH traded at $1,868.
The rotation coincided with the ETH/BTC pair breaking out from a multi-month capitulation, advancing over 5% to 0.02958. Analysis suggested that if the accumulation pattern persisted, the ETH/BTC pair could rally toward 0.0312.
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