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BlackRock Purchases $94M in BTC and ETH



BlackRock, the world's largest asset manager, recently acquired 477 Bitcoin (approximately $43.67M) and 16,629 Ethereum ($50.64M) via Coinbase Prime, a total of $94M. This purchase is part of a $589M (4,044 BTC and 80,121 ETH) deposited into BlackRock's wallets over the past three days. Market data shows Bitcoin consolidating around $90,000 while Ethereum holds around $3,000, suggesting growing institutional demand.

This development is driving record inflows for BlackRock's Bitcoin ETF (IBIT) and Ethereum ETF (ETHA). ETHA saw net inflows of $50.22M on November 26, outperforming rivals Fidelity and Grayscale. While BlackRock's recent transfer of over $1 billion to Coinbase could be interpreted as liquidity management, today's purchase supports the growth of ETFs. Institutional investors are leading the crypto market recovery; despite Bitcoin's Fear & Greed Index being at 14 (extreme fear), these moves are bullish.

In terms of market impact, BlackRock's holdings could increase price pressure given the limited supply. The Ethereum/BTC pair is at critical support; strengthening ETH with ETF inflows could trigger an altcoin rally. However, volatility risks persist—like the 10% weekly BTC decline. Longer-term, these steps accelerate the integration of crypto into traditional finance, making $BTC and $ETH essential for portfolio diversification for investors. BlackRock's move heralds further institutional inflows toward the end of 2025.

#BitcoinPriceWatch
#CryptoMarketWatch
BTC-6.25%
ETH-7.04%
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Ybaservip
· 11-29 23:30
Ape In 🚀
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SEVENvip
· 11-29 10:07
Bull Run 🐂
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