BlackRock just bought $350 million of these two cryptocurrencies

BlackRock , the world’s largest investment firm, bought approximately $350 million worth of Bitcoin ( BTC ) and Ethereum ( ETH ) through its spot crypto ETFs on Wednesday, March 4. To be precise, BlackRock’s iShares Bitcoin Trust (IBIT) recorded $306.25 million in inflows, while its Shares Ethereum Trust (ETHA) added $45.5 million, according to the latest figures published by Lookonchain . Market-wide, Bitcoin ETFs are now up 20,816 BTC (around $1.5 billion). Their Ethereum counterparts, on the other hand, are down 9,049 $ETH (approximately $18.76 million). Crypto ETF flows. Source: Lookonchain Bitcoin ETFs recover; Ethereum ETFs struggle As the fund manager had already accumulated more than $650 million worth of the two assets on Monday and Tuesday, its overall weekly inflows so far sit at $1 billion. Its total net holdings stand at more or less $63.3 billion. The differing flows between BTC and ETH may reflect short-term portfolio adjustments. That is, investors tend to rebalance their crypto holdings in response to changing market conditions. Given the ongoing situation in the Middle East, capital is expected to gravitate toward the most liquid and widely recognized digital asset, i.e., Bitcoin. The renewed inflows are also coinciding with an overall improving sentiment in the crypto market. Indeed, the Crypto Fear & Greed Index has risen from 10 to 29 over the past 24 hours, indicating that traders are becoming more willing to take bolder moves. Bitcoin prices are also going up, with the crypto trading at $73,190 at the time of writing, up 2.5% on the daily chart. Ethereum, despite weaker institutional flows, is also up 3.5%, trading at $2,150. As persistent net inflows are generally bullish, they could increase buy-side demand for both digital currencies. Conversely, another sentiment shift could introduce selling pressure, potentially limiting upward momentum or amplifying market downturns. Featured image via Shutterstock The post BlackRock just bought $350 million of these two cryptocurrencies appeared first on Finbold .