BlackRock Buys Roughly $240 Million of Bitcoin and Ethereum for Its ETF Lineup

BlackRock has stepped up its activity in digital assets, purchasing an estimated $240 million worth of Bitcoin (BTC) and Ethereum (ETH), according to on-chain data cited by Onchain Lens. The tokens were transferred to wallets associated with BlackRock's crypto-focused ETF products. The data show purchases totaling 2,802,904 BTC and 6,580 ETH, with the combined value estimated at about $240 million. After the transactions, the assets were moved into wallets tied to BlackRock's US-listed spot crypto ETFs. On-chain records indicate the Bitcoin was sent to wallets linked to BlackRock's spot Bitcoin ETF, IBIT. The Ethereum was directed to wallets associated with the ETHA ETF and the staking-enabled ETHB ETF. The transactions underscore BlackRock's growing footprint in crypto markets since its spot ETF products began trading in the United States. IBIT has become one of the largest spot ETFs offering institutional access to Bitcoin, while the firm's Ethereum ETFs provide traditional-market exposure to the second-largest cryptocurrency. The latest buying is being read as another signal of ongoing institutional demand for BTC and ETH. Investors are also tracking ETF-driven flows for their potential influence on crypto price performance. At the same time, the on-chain transfers appear to be part of BlackRock's ETF operational activity and may not reflect discretionary, speculative positions held on the firm's corporate balance sheet. Even so, the size of the purchases points to a rising institutional presence in the market. Traders are now watching for BlackRock's next BTC and ETH movements and for continued inflows into its ETF products. This is not investment advice.