BlackRock's investment strategy shifts from Bitcoin to Ethereum
BlackRock, the world's largest asset management company, has made a significant change in its cryptocurrency investment strategy this year, increasing its holdings in Ethereum (ETH) at a pace far exceeding that of Bitcoin (BTC). This shift has sent shockwaves through the crypto market and provides important insights for institutional investors' future strategies.
According to Finbold's analysis of Arkham Intel wallet cluster data, as of September 9, 2025, BlackRock's Bitcoin holdings amount to 732,384 BTC, valued at approximately $81.7 billion based on a price of $111,513 at that time. In contrast, its Ethereum holdings have reached an impressive 3.74 million ETH, valued at around $16 billion (at a price of $4,301).
Compared to January 1, 2025, BlackRock's Bitcoin holdings have increased by over 30%. However, the growth in Ethereum holdings is even more remarkable, having increased by 2.5 times. In other words, in terms of percentage growth, BlackRock's accumulation of Ethereum is 7.6 times that of Bitcoin.
Despite both Ethereum and Bitcoin prices rising during this period, the increase in token holdings far outpaces the price growth, indicating that BlackRock's actions are not merely reactive to market cap changes but represent proactive net purchases.
Shift in Portfolio Allocation: From 6.6% to 17.2%
This strategic adjustment has significantly altered the composition of BlackRock's cryptocurrency investment portfolio. At the beginning of the year, Ethereum accounted for just 6.6% of its portfolio ($3.59 billion out of $54.83 billion). As of September 2, this allocation has risen to 17.2% ($16.58 billion out of $96.44 billion), an increase of 10.6 percentage points.
The massive accumulation by BlackRock is likely to have a considerable impact on the market. Firstly, the increase of 2.71 million Ethereum relative to its total circulating supply represents a substantial amount of stable buying pressure. Secondly, this signals that institutional investors are reassessing their cryptocurrency strategies, gradually extending their investments beyond Bitcoin and actively engaging with the Ethereum ecosystem. This aligns with the increasing maturity of Ethereum-related products and capital flows.
BlackRock's actions indicate a growing confidence among institutional investors in Ethereum, potentially leading to further institutional participation and driving both the price and market position of Ethereum.
