BlackRock's crypto portfolio continues to expand, reaching a total value of $104 billion. Leading this growth is Ethereum, which has shown notable performance in recent months.
Overview of BlackRock's Crypto Portfolio
Current data shows that BlackRock holds approximately 743,310 BTC valued at $89.27 billion and 3.2 million ETH worth $14.71 billion. Since the beginning of the year, the firm has seen a $49.15 billion increase in assets, bringing the total to $104 billion.
Ethereum Growth in Portfolio
Over the past year, BlackRock's Ethereum balance has surged from 1.07 million to over 3.2 million coins, corresponding to a dollar value increase of more than 309% in seven months. While Bitcoin remains the dominant holding, it has seen a volume increase of 34% and a value increase of 74% since the start of 2023.
Market Impact and Future of Crypto Assets
The acceleration of Ethereum purchases after June has been attributed to increased ETF activity and growing DeFi integration. Despite crypto investments constituting less than 1% of the total $12.53 trillion in assets under management, this underscores BlackRock's growing confidence in the future of digital assets, particularly Ethereum.
Thus, BlackRock demonstrates a strong interest in the cryptocurrency market, particularly in Ethereum, which may influence the future development of this sector.
