Blackrock gets out of Bitcoin and invests $ 69 million in Ethereum

Blackrock has made a remarkable portfolio adjustment and reduced its commitment to Bitcoin while it increased its Ethereum stocks.

Between May 30th and June 2, the asset management giant above $Transfer 560 million in BTC to Coinbase Prime and at the same time acquired more than 27,000 ETH.

Blockchain data show that 5,362 BTC worth around $ 561 million were moved in several large transactions. This coincided with considerable returns from the Ishares Bitcoin Trust – $ 430.8 million on May 30th and another $ 130.4 million on June 2 -, which reflected the movements in the blockchain.

While Blackrock reduced part of its Bitcoin engagement, the company increased its Ethereum position through the purchase of 27.241 ETH worth around $ 69 million. The inflows in the Ishares Ethereum Trust amounted to a total of $ 48.4 million on June 2 and thus led all Ethereum ETFs on that day. Fidelity followed with net inflows of $ 29,78 million, while other issuers did not record profits.

Ethereum-ETFs have been listing net inflows for eleven days in a row and have accumulated over $ 3.1 billion-a sign of the growing interest of investors, even if the inflows in Bitcoin ETFs drop.

The latest fluctuations in Bitcoin seem to influence these shifts. The cryptocurrency rose to a record $ 112,000 before it fell back to $ 103,000. At the time of the creation of this article, it is around $ 106,600. Analysts say that Blackrock's wealth movements reflect a strategic new weighting that was probably triggered by ETFs with the redemption mechanisms.

Despite the latest reductions, Blackrock with more than 661,000 BTC worth around $ 70 billion remains one of the largest institutional owners of Bitcoin. Market observers continue to assume that the company's Bitcoin trust will ultimately surpass all other BTC stocks.

Alexander has been working in the crypto industry for three years and has made a name for himself during this time through his active participation in observing the market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional obligation, but a deep personal passion. He follows the news from the industry every day, analyzes trends and is enthusiastic about every new step in the development of blockchain solutions. His enthusiasm drives him to constantly learn and share his knowledge because he sees the future in the digital financial world and its role in global transformation.