U.S. investment giant BlackRock has significantly increased its crypto exposure, purchasing $589 million worth of Bitcoin and Ethereum over just three days as the broader market shows signs of recovery.
Data reveals that BlackRock wallets accumulated 4,044 BTC and 80,121 ETH, sourced directly from Coinbase. This surge in inflows highlights the growing dominance of BlackRock in the crypto ETF landscape, especially as institutional activity begins to strengthen again.
The combined value of these acquisitions includes $354 million in Bitcoin and $235 million in Ethereum based on current market prices. These transfers occurred in several large batches, including a notable 300 BTC transaction followed by multiple Ethereum movements. This marks a reversal from previous periods when BlackRock was sending large amounts of BTC and ETH back to Coinbase.
The timing aligns with improving market sentiment. Bitcoin has climbed to around $91,552 after rebounding from an intraday dip, with buyers stepping in near the $91,000 level. This recovery mirrors the broader positive trend seen across major crypto assets this week.
ETF flow data further supports this momentum. On November 26, BlackRock’s IBIT Bitcoin ETF posted nearly $43 million in net inflows — the highest among all U.S. Bitcoin ETFs that day. Meanwhile, Fidelity’s FBTC saw over $30 million in outflows, signaling a shift in investor preference toward BlackRock. Grayscale’s GBTC also saw a modest inflow of $5.63 million.
Ethereum has also regained traction. ETH traded near $3,022 after a strong midday rally and brief consolidation above $3,040. BlackRock’s ETHA ETF recorded $50.22 million in net inflows on the same day, far surpassing other Ethereum ETF providers. Bitwise’s ETHW and Grayscale’s second Ethereum ETF also saw inflows of $4.4 million and over $6 million, respectively.
These patterns point to a steady expansion of BlackRock’s digital asset footprint, reinforced by the recent launch of its BUIDL product on BNB Chain. Overall, the sustained inflows suggest institutional investors are positioning early for potential catalysts heading into year-end.
