BlackRock Executes Multi-Billion-Dollar Accumulation of Bitcoin & Ethereum
BlackRock completes an eighth consecutive day of buying, acquiring 27,722 BTC and 385,633 ETH worth roughly $3.16 billion through its IBIT and ETHA spot ETFs, signalling continued institutional demand for crypto.
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Eight Straight Days of Buying
@BlackRock has completed an eighth consecutive day of crypto purchases, acquiring 27,722 $BTC and 385,633 $ETH in a single on-chain move worth roughly $3.16 billion. The breakdown places approximately $2.2 billion in $BTC and $961 million in $ETH, deployed through the firm's two flagship spot ETF products: the iShares Bitcoin Trust ($IBIT) and the iShares Ethereum Trust ($ETHA).
The purchases are not discretionary bets by BlackRock itself. As Crypto Briefing has noted, when investors buy shares of $IBIT or $ETHA, the fund is obligated to acquire the underlying assets to back those shares. The on-chain activity reflects investor demand flowing through regulated ETF infrastructure rather than a proprietary trade.
Dominant Force in Spot Crypto ETFs
The scale of the latest purchases sits within a broader pattern of dominance for BlackRock across the spot crypto ETF market. According to Crypto Daily, on August 24 alone, $IBIT contributed around $209 million, accounting for roughly 62% of the day's total net Bitcoin ETF inflows, while $ETHA captured nearly four-fifths of total daily Ethereum ETF demand.
The momentum has been building for several weeks. According to SoSoValue data cited by Incrypted, spot Bitcoin and Ethereum ETFs in the US collectively attracted $2.62 billion during the week of August 17 to 21, their best weekly result of 2026, with $IBIT and $ETHA leading all individual funds.
BlackRock reported $15.3 trillion in assets under management as of end-June 2026, making it the world's largest asset manager. That scale gives its crypto products a distribution reach that few competitors can match, and the consistent inflow figures suggest institutional allocators are using $IBIT and $ETHA as primary vehicles for regulated crypto exposure.
Sources:
Crypto Briefing: BlackRock adds Bitcoin and Ethereum through ETF operations
Crypto Daily: Bitcoin and Ethereum ETFs Add $454 Million as BlackRock Leads
Incrypted: Bitcoin and Ethereum ETFs Post Best Weekly Performance of 2026
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UC HopeUC holds a bachelor’s degree in Physics and has been a crypto researcher since 2020. UC was a professional writer before entering the cryptocurrency industry, but was drawn to blockchain technology by its high potential. UC has written for the likes of Cryptopolitan, as well as BSCN. He has a wide area of expertise, covering centralized and decentralized finance, as well as altcoins.