BlackRock bought 4x more of this crypto than Bitcoin last week
BlackRock is ramping up its Ethereum exposure at a pace that far outstrips its Bitcoin allocation. The world’s largest asset manager purchased more than $1.2 billion worth of Ethereum (ETH) between July 22 and July 28, compared to just $267 million in Bitcoin (BTC) over the same period, according to on‑chain data from Arkham . The data shows multiple large‑block transfers of 10,000 ETH each (approximately $36–37 million) from Coinbase Prime hot wallets to BlackRock‑controlled wallets, alongside several smaller inflows, including a single 177,500 ETH transaction worth $655.9 million. https://twitter.com/arkham/status/1950304519268815214 Ethereum price performance At the time of writing, Ethereum trades at $3,812.42, up 3.14% over the past week, while Bitcoin trades at $118,356.67, down 0.11% over the same period. The scale of these inflows adds weight to the narrative that Ethereum is emerging as a preferred institutional play. While Bitcoin remains a domin...