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BlackRock Invests $916M In Bitcoin, Ethereum As Crypto Holdings Surge
HomeNews* BlackRock raised its Bitcoin holdings by $416 million, now controlling $85.47 billion in Bitcoin assets.
For Ethereum, BlackRock expanded its position from 1.73 million ETH to 2.02 million ETH, with the total value of its Ethereum assets growing to $6.94 billion. The new purchase on July 16 alone contributed more than $2.5 billion in value to its holdings.
Market observers note that BlackRock did not follow the traditional approach of buying large quantities during market dips. Instead, the firm actively sought to benefit from positive price momentum by increasing its investments during rising markets.
In addition to Bitcoin and Ethereum, BlackRock diversified its cryptocurrency portfolio by adding micro-cap digital tokens like MOG and IMAGE. The firm also significantly raised its SPX (which typically refers to the S&P 500 Index or related products) exposure by 19.4%, showing a broad interest in both established and emerging digital asset classes.
These recent purchases bring BlackRock’s combined investments in Bitcoin and Ethereum to $916 million. This strategy highlights the firm’s commitment to both leading cryptocurrencies and nascent assets as it expands its influence in the fast-growing cryptocurrency industry.
For additional details, the information originally appeared in the article BlackRock just bought $916 million of these two cryptocurrencies on Finbold.