BlackRock Shifts Focus to Ethereum, Outpacing Bitcoin Purchases Amid Growing Institutional Demand
By Aliyu Pokima – 1 hour ago
Key Highlights:
- BlackRock has acquired $156 million worth of Ethereum, exceeding its $125 million Bitcoin purchases.
- The shift follows the success of BlackRock’s Bitcoin ETF, which now holds over 700,000 BTC.
- A surge in Ethereum-focused treasury firms is helping drive broader institutional interest in ETH.
Institutional appetite for Ethereum is rising, with BlackRock leading the charge. The asset management giant has recently increased its ETH holdings, surpassing its Bitcoin acquisitions for the first time in several months. This trend highlights a growing shift in institutional capital toward the second-largest cryptocurrency.
Ethereum Outpaces Bitcoin in Recent BlackRock Activity
Data from Arkham Intelligence reveals that BlackRock has added $156 million in Ethereum to its portfolio, compared to $125 million in Bitcoin during the same period. Although the specific reason for the increase wasn’t officially disclosed, the move is likely tied to BlackRock’s ETH and BTC ETFs.
BlackRock’s Bitcoin ETF recently reached a significant milestone—surpassing 700,000 BTC in holdings—becoming the firm’s third most profitable fund. The ETF achieved $70 billion in assets under management in just 341 trading days, marking one of the fastest growth trajectories in the firm’s history.
A Strategic Shift Toward Ethereum
Since Q2, BlackRock has steadily accumulated ETH. Reports in June suggested the firm was reallocating some Bitcoin positions into Ethereum. Its Ethereum ETF has seen 12 consecutive days of net inflows, reinforcing this pivot.
At the time of reporting, ETH is nearing $3,000 after a nearly 6% daily gain. Bitcoin, meanwhile, has hit a new record high of $113,000, showing resilience despite the shift in institutional focus.
Ethereum Treasury Holdings Gain Momentum
A growing number of Ethereum treasury firms are emerging, echoing earlier trends seen with Bitcoin. SharpLink Gaming now holds over 205,000 ETH, while GameSquare recently acquired 1,818 ETH to support its business expansion.
Bit Digital, another major player, announced it had fully converted its Bitcoin reserves into Ethereum—further fueling the ETH narrative. This movement has reignited comparisons between BTC and ETH as institutional preferences evolve.
Tesseract CEO James Harris has forecasted a 160% rally in Ethereum’s price by year-end. Meanwhile, BitMEX co-founder Arthur Hayes has set a short-term price target of $10,000 for ETH, predicting the current wave of institutional interest will continue to drive momentum.
