BlackRock Buys More Ethereum Than Bitcoin, Signaling Big Shift Toward Altcoins
- BlackRock’s Ethereum purchases surpass $547M, outpacing Bitcoin by $50 million.
- Investment giant adds $499.2M worth of Ethereum on July 16, increasing holdings.
- Analyst Cas Abbé projects $4K ETH target within weeks using Wyckoff theory.
BlackRock has purchased over $547 million worth of Ethereum, exceeding its Bitcoin inflows of $497 million by $50 million according to Arkham data. The investment manager’s ETH allocation strategy indicates stronger conviction in Ethereum compared to Bitcoin when adjusted for market capitalization differences.
Weighted by market cap analysis reveals BlackRock is acquiring over five times the amount of Ethereum compared to Bitcoin, suggesting institutional preference for the second-largest cryptocurrency. This allocation pattern differs from typical investment approaches that favor Bitcoin as the primary digital asset exposure.
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BlackRock Buys More Ethereum Than Bitcoin, Signaling Big Shift Toward Altcoins
- BlackRock’s Ethereum purchases surpass $547M, outpacing Bitcoin by $50 million.
- Investment giant adds $499.2M worth of Ethereum on July 16, increasing holdings.
- Analyst Cas Abbé projects $4K ETH target within weeks using Wyckoff theory.
BlackRock has purchased over $547 million worth of Ethereum, exceeding its Bitcoin inflows of $497 million by $50 million according to Arkham data. The investment manager’s ETH allocation strategy indicates stronger conviction in Ethereum compared to Bitcoin when adjusted for market capitalization differences.
Weighted by market cap analysis reveals BlackRock is acquiring over five times the amount of Ethereum compared to Bitcoin, suggesting institutional preference for the second-largest cryptocurrency. This allocation pattern differs from typical investment approaches that favor Bitcoin as the primary digital asset exposure.
The post BlackRock Buys More Ethereum Than Bitcoin, Signaling Big Shift Toward Altcoins appeared first on Coin Edition.
Read More