As of January 2, 2024, BlackRock, the world’s largest asset manager, has revealed a heavy concentration in Bitcoin (BTC) and Ethereum (ETH), deeming them the only cryptocurrencies worth investing in.
With a staggering $56.41 billion allocated to its cryptocurrency portfolio, Bitcoin and Ethereum dominate, accounting for over 99% of the portfolio’s value.
Dominance of Bitcoin and Ethereum in BlackRock’s strategy
Bitcoin leads the pack with 550,643 BTC holdings, valued at $52.78 billion at a current price of $95,855 per coin, representing a gain of $1.28 billion (+2.48%), as per data retrieved by Finbold from Arkham Intel.
Ethereum follows with 1.037 million ETH worth $3.55 billion, priced at $3,425 per token, and an increase of $89.61 million (+2.59%). These two assets form the bedrock of BlackRock’s cryptocurrency approach, reflecting the company’s faith in their long-term potential.
BlackRock’s crypto portfolio. Source: Arkham Intel
The rest of BlackRock’s
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