BlackRock purchases $390M in Bitcoin and Ethereum

BlackRock, a major American investment management corporation overseeing trillions in assets, purchased $390 million in Bitcoin and Ethereum on Friday, continuing its aggressive expansion into digital assets.

The latest acquisition adds to BlackRock's substantial crypto holdings, which have grown rapidly since the firm began offering cryptocurrency ETFs. The investment management giant now holds nearly 765,000 BTC following the approval of spot Bitcoin ETFs in early 2024.

BlackRock's growing digital asset portfolio reflects broader institutional adoption trends, with traditional finance firms increasingly allocating portions of their portfolios to crypto assets through exchange-traded funds.

Since launching its cryptocurrency investment products, BlackRock has accumulated billions in value across Bitcoin and Ethereum holdings, establishing itself as one of the largest institutional holders in the space.