BlackRock Buys 1,160 BTC and 18,800 ETH in One Day
BlackRock acquired 1,160 BTC and 18,800 ETH via spot ETFs on May 29, signaling major institutional interest.
- BlackRock purchased over 1,100 BTC and 18,000 ETH on May 29.
- The move highlights growing institutional interest in crypto.
- Spot ETFs are fueling demand for Bitcoin and Ethereum.
On May 29, BlackRock made a significant move in the crypto space by purchasing 1,160 Bitcoin (BTC) and 18,800 Ethereum (ETH) through its spot Exchange-Traded Funds (ETFs). This large-scale acquisition showcases the growing appetite among institutional investors for digital assets, with BlackRock leading the charge.
As one of the world’s largest asset managers, BlackRock’s activity in crypto markets carries serious weight. The firm’s recent accumulation of both BTC and ETH reflects a rising confidence in the long-term value of major cryptocurrencies. It also suggests that institutional players are increasingly seeing crypto not just as a speculative asset, but as a legitimate part of diversified portfolios.
What This Means for Bitcoin and Ethereum
Spot ETFs offer investors a way to gain exposure to cryptocurrencies without directly owning them. By buying the assets on behalf of investors, ETFs help bridge the gap between traditional finance and the decentralized world of crypto. BlackRock’s ETF products are now actively buying crypto on the open market, which adds consistent demand and reduces available supply—factors that could support future price increases.
This recent purchase of 1,160 BTC and 18,800 ETH translates to tens of millions of dollars in crypto inflows in a single day. It’s a clear signal that traditional finance giants are not just testing the waters—they’re diving in.
The Bigger Picture
BlackRock’s steady accumulation strategy via spot ETFs could inspire other institutions to follow suit. As regulatory clarity improves and more ETF products hit the market, the influence of institutional capital will likely continue to grow. With BlackRock setting the pace, Bitcoin and Ethereum could be on the verge of a new era of mainstream adoption.
This trend not only boosts confidence in the crypto sector but also helps validate the role of digital assets in modern finance.
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