BlackRock Crypto Holdings Surge by Almost $5 Billion in July

BlackRock has seen its crypto portfolio grow by nearly $5 billion so far in July. Data shows total holdings jumped from $49.15 billion at the start of the month to roughly $53.95 billion by July 28. This marks a solid 9.77% increase in value for the institutional giant.

Most of the growth came from the iShares Bitcoin Trust, which climbed by $3.64 billion to reach $48.33 billion. Even though BlackRock actually sold a small amount of Bitcoin, the price of the top coin rose by more than 8% to push the total value higher. Meanwhile, the Ethereum trust added $1.16 billion to hit $5.62 billion, driven by rising token prices and fresh buying.

Traders are watching these moves closely to see if big investors are starting to rotate capital toward Ethereum. The Ethereum price gained over 21% this month while BlackRock added more than 100,000 coins to its stash. Keep an eye on market charts to see if this trend continues into next month.