BlackRock scooped up over $1.8 billion of these cryptocurrencies in a week

BlackRock significantly increased its exposure to Bitcoin (BTC) and Ethereum (ETH) last week, scooping up more than $1.8 billion worth of the assets as institutional demand for cryptocurrency investment products accelerated.

The asset manager attracted the largest share of inflows into U.S. spot crypto exchange-traded funds (ETFs) during one of the strongest weeks for the sector this year.

Over the five trading sessions ending August 21, BlackRock’s spot Bitcoin and Ethereum ETFs recorded a combined $1.87 billion in net inflows. 

In this vein, data shows BlackRock’s iShares Bitcoin Trust (IBIT) attracted approximately $1.33 billion between August 17 and August 21, while the iShares Ethereum Trust (ETHA) added another $536.8 million. The combined inflows made BlackRock a key driver of the crypto market’s latest rally.

IBIT attracted $160.2 million on August 17, $143.6 million on August 18, $284.7 million on August 19, $503 million on August 20, and $239.3 million on August 21, bringing its five-day total to approximately $1.33 billion.

The largest single-day inflow came on August 20, when investors poured more than $503 million into the fund. On that day, U.S. spot Bitcoin ETFs collectively attracted $606.3 million, their highest daily inflow since May.