BlackRock's Bitcoin Holdings Surge to $27.73 Billion as Ethereum ETF Outflows Reach $7 Million

BlackRock, the world's largest asset manager, saw a significant increase in its bitcoin ETF holdings, reaching 403,725 btc, valued at approximately $27.7 billion, Lookonchain reported in a post on x.

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October 28 Update:

10 twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>#bitcoin ETFs
Net flow: +5,246 twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>$btc(+$360.28M)twitter.com/hashtag/Blackrock?src=hash&ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>#blackrock(iShares) entries 4,369 twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>$btc($300 million) and currently owns 403,725 twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>$btc($27.73 billion).

9 twitter.com/hashtag/ethereum?src=hash&ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>#ethereum ETFs
Net flow: -387 twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>$eth($973K)https://t.co/dFLYQIWNen pic.twitter.com/SXfSqF3eew

— Lookonchain (@lookonchain) twitter.com/lookonchain/status/1850923493631902098?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>October 28, 2024

BlackRock's iBIT ETF led the surge in bitcoin investments, adding 4,369 btc worth around $300 million and 17,110 btc valued at around $1.18 billion over the past week.

At the time of writing, total bitcoin holdings in major ETFs stood at 972,575 btc, valued at approximately $66.7 billion, with a 7-day net inflow of 14,782 btc, totaling over $1 billion. dollars.

Other bitcoin ETFs, such as Fidelity's FBTC ETF, saw a positive inflow of 1,071 btc over the past week, while the ARK 21Shares bitcoin ETF saw an outflow of 3,091 btc.

In contrast, ethereum ETFs collectively hold 2,765,649 eth, valued at around $6.9 billion, but recorded a 7-day net outflow of 2,917 eth, representing a decline in value of approximately $7.3 million. dollars.

On the ethereum side, Grayscale ethereum Trust, which holds the largest ethereum holding among ETFs with 1,604,967 eth, saw a substantial outflow of 14,841 eth in the last week.

Despite minor positive inflows from ETFs such as BlackRock's iShares ethereum Trust with 7,271 eth and Fidelity's ethereum Fund with 2,500 eth, the overall trend of ethereum ETFs remains negative, indicating waning interest compared to bitcoin.