BlackRock is buying 5 times more Ethereum than Bitcoin

BlackRock’s Ethereum (ETH) appetite appears far from satisfied.

According to new on-chain intelligence data from Arkham, the world’s largest asset manager has bought $547 million worth of Ethereum in a single day, $50 million more than its Bitcoin (BTC) inflow over the same period.

The surge was detected via blockchain monitoring tools that track wallet movements tied to institutional investors, but the raw dollar figures tell only part of the story.

When adjusted for market capitalization, BlackRock’s Ethereum purchases are over 5 times larger than its Bitcoin buys, a staggering imbalance that hints at deeper institutional conviction in ETH’s relative upside potential.

At the time of writing, Bitcoin is trading at $118,755 with a market cap of $2.36 trillion, while Ethereum is priced at $3,620 with a market cap of $437 billion. The relative size difference means BlackRock’s ETH accumulation carries significantly more market impact on a percentage basis making its strategy even more striking.

BlackRock’s Ethereum holdings

As of July 18, BlackRock’s total Ethereum holdings stand at $7.75 billion, following months of consistent accumulation. Meanwhile, the firm’s Bitcoin exposure, while still massive, appears to be growing at a slower pace relative to ETH.

The asset manager’s aggressive Ethereum strategy has raised eyebrows among analysts, especially given its traditionally cautious stance on altcoins. Some speculate that the move may be tied to BlackRock’s ambitions in tokenized finance or ETH’s role in powering real-world asset infrastructure.