BlackRock’s cryptocurrency holdings climbed sharply this July, adding close to $4.8 billion in value within the month. Data from Arkham Intelligence reveals that the firm’s crypto portfolio swelled from $49.15 billion on July 1 to around $53.95 billion by July 28, marking a growth of almost 10%.
The surge was largely driven by its flagship products: the iShares Bitcoin Trust ETF (IBIT) and the iShares Ethereum Trust (ETHA). IBIT’s value increased by $3.64 billion, reaching approximately $48.33 billion as Bitcoin’s price rose by 8.65%, trading near $65,330. Despite this, BlackRock trimmed its Bitcoin holdings by 3,420 coins, bringing their total to about 739,770 by the end of July.
Ethereum Outpaces Bitcoin Gains
Meanwhile, the Ethereum trust saw its valuation jump by around $1.16 billion with renewed buying activity and a strong price rally. Ethereum’s price rose more than 21% to about $1,952, prompting BlackRock to boost its ETH stash by 105,920 coins to nearly 2.88 million. This shift hints at a growing institutional appetite for Ethereum over Bitcoin, especially as clearer crypto regulations globally might be influencing capital flows.
Market analyst Aksel Kibar highlights how the ETH/BTC ratio has reversed an extended downtrend, signaling that Ethereum’s momentum could continue to attract investors. BlackRock’s moves align with this trend, underscoring a possible rotation within institutional portfolios between the two largest cryptocurrencies.
material is informational and not investment advice
