BlackRock Chooses Ethereum: Goodbye to Bitcoin?
The numbers don't lie. BlackRock, the asset management giant, continues to buy Ethereum (ETH).
According to data from Arkham, the company injected 547 million dollars into ETH in a single day, exceeding its Bitcoin purchases during the same period by 50 million.
But what is most striking is not just the amount, but the proportion: adjusting for market capitalization, BlackRock is buying 5 times more Ethereum than Bitcoin, a signal that surprises the crypto ecosystem.
While Bitcoin is trading around 119,850 USD (with a market capitalization of 2.36 trillion), Ethereum remains at 3,620 USD (437 billion). This difference explains why BlackRock's acquisitions impact the latter more: every dollar invested in ETH significantly moves its market.
It is no surprise that their total holdings of Ethereum have already reached 7.75 billion dollars, a figure that grows month by month, while their exposure to Bitcoin progresses at a slower pace.
What is behind this movement? Analysts speculate with several theories. From BlackRock's bet on tokenized finance — where Ethereum is key — to the possibility that they are anticipating greater relative growth of ETH compared to BTC. The truth is that for a traditionally conservative firm like BlackRock, this strategic shift represents an unexpected boost to the second-largest cryptocurrency in the world.
