BlackRock loads up on nearly $1 billion of these two cryptocurrencies
In this news:
Despite the war and U.S. economic data-driven slump in the cryptocurrency markets, two BlackRock (NYSE: BLK) exchange-traded funds (ETFs) have been loading up on some of the world’s biggest digital assets.
The iShares Staked Ethereum Trust ETF (ETHB) purchased $13.9 million worth of Ethereum (ETH) on September 10, marking its twentieth consecutive day of inflows for a total of $250 million purchased in three weeks.
Notably, ETHB is something of an outlier among major ETH ETFs, and both its sister fund, iShares Ethereum Trust ETF (ETHA), and Fidelity’s Ethereum Fund (FETH) saw outflows within the time frame, per the data shared on X by Arkham.
Looking at the monthly chart of iShares Staked Ethereum Trust’s price reveals it is up 31.07% in the last 30 days and trading at $31.68, with the majority of the rally taking place around August 20.
IBIT ETF buys nearly $700 million worth of BTC in just three days
Elsewhere, the second major BlackRock fund that has been busy accumulating cryptocurrency is the iShares Bitcoin Trust ETF (IBIT). Still, IBIT’s buying has not been as decisive as for ETHB.
On Monday, September 7, Arkham reported that IBIT purchased an additional $117.4 million worth of Bitcoin (BTC) on the previous Friday, bringing the three-green-day total to just under $687 million.
Tuesday brought inflows worth an additional $10.7 million, but then Wednesday and Thursday saw outflows worth a total of $44 million, according to the numbers Finbold retrieved from Coinglass on September 11.
Notably, though IBIT remains at $43.68, 21.54% in the green on the monthly chart, outflows had a visible impact, and the ETF suffered a 5.76% weekly slump, significantly higher than ETHB’s 2.37%.
Still, both funds’ performance continues to be closely linked to the movements of their underlying cryptocurrencies, as well as to the movements of the overall digital assets market. Bitcoin is up nearly 22% in the last 30 days, and Ethereum rallied more than 34% within the timeframe.
Featured image via Shutterstock
Share the article:
Trending News & Crypto World
.png)
Latest Crypto News
Top Trending Cryptocurrencies on The Market
Current Price
$1.292
Market Cap
$81.5B -0.43%
24h Volume
$1.3B
Supplies
100.0B / 100.0B
Current Price
$0.9993
Market Cap
$72.6B -0.02%
24h Volume
$15.6B
Supplies
72.6B / ∞
Current Price
$100.21
Market Cap
$59.1B -1.26%
24h Volume
$2.7B
Supplies
635.9M / ∞
Current Price
$0.3299
Market Cap
$31.3B -0.24%
24h Volume
$363.8M
Supplies
95.0B / ∞
Current Price
$1.041
Market Cap
$24.9B 0%
24h Volume
$363.6M
Supplies
24.0B / ∞
Current Price
$1,222.23
Market Cap
$20.9B 0.90%
24h Volume
$1.3B
Supplies
17.0M / 21.0M
Current Price
$78.423
Market Cap
$17.5B 1.67%
24h Volume
$663.3M
Supplies
955.3M / 1.0B
Current Price
$0.07716
Market Cap
$12.1B -0.01%
24h Volume
$589.2M
Supplies
156.3B / ∞
Current Price
$594.28
Market Cap
$11.2B -0.20%
24h Volume
$100.4M
Supplies
18.8M / ∞
Current Price
$0.9999
Market Cap
$10.2B -0.02%
24h Volume
$133.7M
Supplies
10.2B / ∞
Current Price
$76.699
Market Cap
$9.1B -1.11%
24h Volume
$100.0M
Supplies
293.4M / 400.0M
Current Price
$11.358
Market Cap
$8.7B -0.86%
24h Volume
$243.4M
Supplies
1.0B / 1.0B