BlackRock nets over $3.1 billion of these cryptocurrencies in 8 days

As Bitcoin (BTC) and Ethereum (ETH) led the broader cryptocurrency industry in a strong recovery over the past two weeks, BlackRock Inc. (NYSE: BLK) has purchased crypto assets worth more than $3.1 billion over 8 consecutive days.

BlackRock’s iShares Bitcoin Trust (IBIT) purchased a total of 22,722 BTC, valued at around $2.2 billion, over the past 8 days, according to on-chain data analysis from Arkham Intelligence, analyzed by Finbold on August 28. Additionally, BlackRock’s iShares Ethereum Trust ETF (ETHA) accumulated 385,633 ETH, worth roughly $961 million during the same period.

IBIT and ETHA on-chain transactions. Source: Arkham Intelligence.

As such, BlackRock bought Bitcoin and Ethereum worth about $3.161 billion in 8 days. This firm received both ETH and BTC from Coinbase Prime, an institutional-grade prime brokerage platform backed by Coinbase Global Inc. (NASDAQ: COIN).

BlackRock investors on a renewed crypto shopping spree

BlackRock’s IBIT has recorded nine consecutive days of cash inflows of $2.302 billion, between August 17 and August 27, as per metrics from SoSoValue. As a result, IBIT increased its Bitcoin holdings to $62.29 billion at the time of reporting.

IBIT daily cash flow. Source: SoSoValue

This firm’s iShares Staked Ethereum Trust ETF (ETHB) has registered a cash inflow of $130.54 million over the past two months, bringing total net assets to $872 million. Notably, ETHB has seen only one month of cash outflows, $10.06 million in June, since its inception.

ETHB daily cash flow. Source: SoSoValue

BlackRock’s ETHA has seen a net $1.02 billion in cash inflows over the last nine consecutive days. Consequently, ETHA had about $8.63 billion in net assets, at the time of writing.