BlackRock, the world’s largest asset manager, has made substantial purchases of cryptocurrencies, acquiring over $590 million worth of Bitcoin and Ethereum in recent days
BlackRock, the world’s largest asset manager, has made substantial purchases of cryptocurrencies, acquiring over $590 million worth of Bitcoin and Ethereum in recent days. The firm bought approximately $306 million and $287.5 million worth of Bitcoin on May 20 and May 21 respectively, increasing its Bitcoin holdings to around 636,000 to 639,000 coins, marking a new all-time high. In addition to Bitcoin, BlackRock has also invested heavily in Ethereum, purchasing between $13.1 million and $64.8 million worth of the cryptocurrency over the same period. Fidelity, another major financial institution, also joined in, buying $64.8 million worth of Ethereum alongside BlackRock. These acquisitions indicate a growing institutional interest in digital assets, with BlackRock steadily increasing its exposure to both Bitcoin and Ethereum.
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