BlackRock buys 7x more Ethereum than Bitcoin in 2025
Finbold research Analysis of Arkham Intel wallet clusters shows BlackRock has been accumulating Ethereum (ETH) at a dramatically faster clip than Bitcoin (BTC) in 2025, reshaping the balance of the asset manager’s on-chain crypto exposure. On January 1, 2025, Arkham’s “BlackRock” entity showed 552,550 BTC ($51.16 billion at a spot of $92,595) and 1.07 million ETH ($3.59 billion at $3,354). By September 2, 2025, the same cluster reflected 737,350 BTC ($79.86 billion at $108,304) and 3.78 million ETH ($16.58 billion at $4,389). Over the period, Bitcoin holdings rose +184,800 BTC (+33.44%) while Ether holdings swelled +2.71 million ETH (+252.55%). On a percentage basis, ETH accumulation outpaced BTC by 7.6x, confirming a decisive tilt toward Ethereum by the asset manager. Thus, in 2025, BlackRock bought Ethereum roughly seven-times faster than Bitcoin, by percentage growth in units held, an elite-scale rotation that strengthens ETH’s institutional ado...