BlackRock Buys $1.3B in Bitcoin and Ethereum
BlackRock invests $1.3B in BTC and ETH on Oct 7, adding 7,220 Bitcoin and 93,430 Ethereum to its spot ETFs.
- BlackRock adds over 7,000 BTC worth $899M to its ETFs
- 93,430 ETH purchased in a single day
- Institutional interest in crypto continues to rise
In a significant show of confidence in the crypto market, investment giant BlackRock added a staggering $1.3 billion worth of Bitcoin and Ethereum to its spot ETFs on October 7. The purchase included 7,220 BTC, valued at approximately $899.4 million, and 93,430 ETH, worth around $437.5 million.
This marks one of the largest single-day crypto acquisitions by a traditional financial institution, underscoring the increasing role that digital assets play in mainstream finance.
What This Means for the Market
BlackRock’s aggressive purchase signals strong institutional conviction in the long-term value of crypto assets. Bitcoin and Ethereum are the two largest cryptocurrencies by market cap, and their inclusion in BlackRock’s ETFs gives traditional investors easier exposure to digital assets without directly holding them.
Such large-scale investments typically reflect expectations of upward price movement or long-term growth. With macroeconomic uncertainty still looming, many institutions are turning to Bitcoin and Ethereum as alternative stores of value and hedging tools.
A Bullish Sign for Crypto Adoption
This move also supports the broader narrative of increasing crypto adoption among legacy financial players. BlackRock’s continued involvement may encourage other institutions to follow suit, boosting overall confidence in the crypto ecosystem.
Moreover, spot ETFs like these bring transparency, regulation, and mainstream acceptance—factors that could accelerate the next bull run.
