BlackRock scooped up over $1.8 billion of these cryptocurrencies in a week
BlackRock significantly increased its exposure to Bitcoin (BTC) and Ethereum (ETH) last week, scooping up more than $1.8 billion worth of the assets as institutional demand for cryptocurrency investment products accelerated. The asset manager attracted the largest share of inflows into U.S. spot crypto exchange-traded funds (ETFs) during one of the strongest weeks for the sector this year. Over the five trading sessions ending August 21, BlackRock’s spot Bitcoin and Ethereum ETFs recorded a combined $1.87 billion in net inflows. In this vein, data shows BlackRock’s iShares Bitcoin Trust (IBIT) attracted approximately $1.33 billion between August 17 and August 21, while the iShares Ethereum Trust (ETHA) added another $536.8 million. The combined inflows made BlackRock a key driver of the crypto market’s latest rally. Bitcoin ETF inflows. Source: CoinGlass IBIT attracted $160.2 million on August 17, $143.6 million on August 18, $284.7 milli...