Institutional demand for cryptocurrencies continues to grow, with BlackRock leading the charge once again.
According to Arkham Intelligence, the world’s largest asset manager bought $2.57 billion worth of Bitcoin (BTC) and another $1.76 billion worth of Ethereum (ETH) last week.
Thanks to the fresh inflows, BlackRock now boasts over $93.9 billion in overall holdings, with Bitcoin amounting to $85.97 billion or 92% of it.
Institutional demand for crypto keeps growing
BlackRock’s moves are not an outlier, as Ethereum witnessed a dramatic surge in general institutional interest,
Fidelity’s FETH fund, for example, saw $113 million in inflows on July 17 and another $127 million on July 21, briefly overtaking BlackRock’s ETHA fund.
In total, Ethereum saw total inflows of $2.12 billion last week, not only breaking previous records but nearly doubling them.
Besides Bitcoin and Ethereum, BlackRock has been focusing on low-cap assets as well.
Indeed, Imagen Network (IMAGE), a lesser-known token on the Solana (SOL) blockchain, has become the fund’s third-largest crypto holding, valued at roughly $445,920.
So far this month, BlackRock’s on-chain portfolio has seen a net change increase of around $14.3 billion between July 1 and July 22, 2025, rising from $79.6 billion to above $93.9 billion.
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