BlackRock’s Bitcoin holdings climb to $27.73 billion as Ethereum ETF outflows reach $7 million

BlackRock, the world’s largest asset manager, recorded a significant increase in its Bitcoin ETF holdings, reaching 403,725 BTC, valued at approximately $27.7 billion, as reported by Lookonchain in a post on X.

Oct 28 Update:

10 #Bitcoin ETFs
NetFlow: +5,246 $BTC(+$360.28M)🟢#Blackrock(iShares) inflows 4,369 $BTC($300M) and currently holds 403,725 $BTC($27.73B).

9 #Ethereum ETFs
NetFlow: -387 $ETH(-$973K)🔴https://t.co/dFLYQIWNenpic.twitter.com/SXfSqF3eew

— Lookonchain (@lookonchain) October 28, 2024

BlackRock’s iBIT ETF spearheaded the surge in Bitcoin investments, adding 4,369 BTC worth approximately $300 million and 17,110 BTC valued at around $1.18 billion over the past week.

At the time of writing, the total Bitcoin holdings across major ETFs amounted to 972,575 BTC, valued at approximately $66.7 billion, with a 7-day net inflow of 14,782 BTC, totaling over $1 billion.

Other Bitcoin ETFs like Fidelity’s FBTC ETF saw a positive inflow of 1,071 BTC over the past week, while the ARK 21Shares Bitcoin ETF experienced 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 value decline of approximately $7.3 million.

On the Ethereum side, the Grayscale Ethereum Trust, which holds the largest share of Ethereum among ETFs at 1,604,967 ETH, registered a substantial outflow of 14,841 ETH in the last week.

Despite minor positive inflows from ETFs like BlackRock’s iShares Ethereum Trust with 7,271 ETH and Fidelity’s Ethereum Fund with 2,500 ETH, the overall trend for Ethereum ETFs remains negative, indicating a waning interest compared to Bitcoin.