Data aggregated from exchange and flow tracking sources suggests that on Oct. 9, BlackRock’s spot ETFs made sizable acquisitions of 2,070 BTC, valued at approximately USD 255.5 million, and 8,690 ETH, valued at about USD 39.3 million.
Highlights
- Bitcoin (BTC) holding increase: +2,070 coins (~USD 255.5M)
- Ethereum (ETH) holding increase: +8,690 coins (~USD 39.3M)
- These purchases reflect BlackRock’s continuing accumulation strategy in the crypto-ETF space.
Background & context
BlackRock’s iShares Bitcoin Trust (IBIT) has been leading flows among U.S. spot BTC ETFs, attracting large daily inflows even while competing funds remain flat or see outflows. It previously added around 3,510 BTC in a single day, underscoring its dominant buying behavior.
Meanwhile, BlackRock’s spot Bitcoin ETF holdings recently crossed the 800,000 BTC milestone (valued over USD 97 billion), solidifying its position as one of the largest institutional holders. The acquisition of ETH assets reflects a broader interest in diversifying into other major blockchain protocols beyond Bitcoin.
Why these moves matter
- Institutional commitment
The purchases reinforce BlackRock’s conviction toward long-term exposure to flagship cryptocurrencies. The scale of these buys is unlikely to be for speculative trading — they suggest strategic accumulation over time. - Market signaling & momentum
When a major institutional player adds tens or hundreds of millions worth of crypto, it can induce sentiment shifts and draw further inflows into related ETFs and funds. - Risk & exposure balancing
While BTC remains the primary focus, adding ETH exposure helps BlackRock capture growth in the Ethereum ecosystem, including potential yield and DeFi opportunity upside. - Price impact & liquidity
Even though these are large sums, the crypto markets (especially at institutional scale) have matured. However, timing and execution (e.g. over-the-counter, block trades, algorithmic execution) will be key to minimizing slippage and market impact.
Considerations & caveats
- The data is drawn from flow trackers and market intelligence; BlackRock or its fund managers have not publicly confirmed these exact numbers as of yet.
- The quoted USD valuations depend on spot prices used in the calculation and may vary slightly across sources.
- Ether holdings in a spot fund may introduce additional considerations (staking, network fees, validator performance, etc.), unlike pure BTC holdings.
What to watch next
- Disclosure from BlackRock or iShares: formal filings or portfolio disclosures confirming the buys.
- Subsequent flow patterns: whether these are one-off accumulation trades or part of sustained inflow streaks.
- Performance metrics: tracking how these acquisitions contribute to fund returns relative to crypto benchmarks.
- Broader ETF ecosystem: competitor funds or new entrants responding with their own accumulation strategies.
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