Key takeout
- BlackRock has bought $390 million worth of Bitcoin and Ethereum, strengthening its position as crypto owners of major institutions.
- The company's Crypto portfolio expanded rapidly in 2024 following the introduction of Bitcoin ETFs.
BlackRock, a leading US investment management company, continued its aggressive expansion into digital assets, purchasing $390 million in Bitcoin and Ethereum on Friday.
The latest acquisition will be added to BlackRock's substantial crypto holdings. The investment management giant has nearly 765,000 BTC approved by the Spot Bitcoin ETF in early 2024.
BlackRock's growing digital asset portfolio reflects broader institutional recruitment trends, with traditional financial companies increasingly allocate portions of their portfolios to crypto assets through funds traded on exchanges.
Since launching its Cryptocurrency Investment product, BlackRock has accumulated billions of dollars in value across Bitcoin and Ethereum Holdings, establishing itself as one of the largest institutional owners in the space.
