According to data shared by Arkham Intelligence, BlackRock continues to buy more Ethereum than Bitcoin. In an X post, Arkham Intelligence revealed that the investment giant has purchased $547M worth of ETH.
At the same time, the firm’s Bitcoin investment stands at $497M, $50 million less than its ETH holdings. This is based on the net inflows that the asset manager recorded for its crypto funds on July 17. SoSoValue data shows BlackRock’s Ethereum ETF took in $546.70 million while the Bitcoin ETF took in $497.30 million.
Notably, this data suggests that BlackRock’s Ethereum purchases are five times greater than its Bitcoin buys.
ignificantly, BlackRock’s Ethereum preference is further bolstered by the recent filing to include staking in its iShares Ethereum ETF. Reportedly, Nasdaq is proposing to remove a clause that prohibits staking of ETF assets and instead add a new clause allowing it.
It is also worth noting that the Ethereum ETF experienced its best week of inflows last week, and these figures are likely to continue rising due to optimism about the SEC’s potential approval of staking for the fund.
