BlackRock Boosts Crypto Holdings 480 Million in Bitcoin 53 Million in Ethereum

Institutional investment in cryptocurrencies has surged, with a significant portion of the inflows directed towards Bitcoin and Ethereum ETFs. This trend is particularly evident in the activities of BlackRock, which has substantially increased its holdings in these digital assets. On May 29, data from on-chain platform Lookonchain revealed that Bitcoin ETFs recorded net inflows of 4,007 BTC, valued at approximately $430.25 million. Ethereum ETFs followed with 30,183 ETH in net inflows, worth around $80.14 million. The bulk of this activity was attributed to BlackRock’s iShares funds, which added 4,476 BTC worth $480.62 million and 19,977 ETH valued at $53.04 million.

These inflows have significantly boosted BlackRock’s crypto ETF holdings, with the firm now holding 663,773 BTC ($71.27 billion) and 1,370,710 ETH ($3.64 billion). This highlights the growing role of traditional finance giants in shaping the crypto market’s liquidity and trend direction. The consistent inflows across both Bitcoin and Ethereum ETFs reinforce the belief that institutions are taking larger stakes in digital assets, despite the volatility in prices.

In addition to BlackRock, other firms are also expanding their crypto exposure. Norway’s K33 raised $5.5 million to adopt a Bitcoin-focused strategy, while Metaplanet issued $21 million in zero-interest bonds to acquire BTC. Nasdaq-listed VivoPower revealed a $121 million XRP-focused plan, and Bergen County announced a long-term $240 billion tokenization initiative on Avalanche. These developments suggest that institutional players are diversifying their exposure beyond Bitcoin and Ethereum, indicating a broader acceptance of cryptocurrencies within the traditional financial sector.

Despite the rising prices and increased ETF activity, retail participation in the crypto market remains limited. Market observers have noted that retail sentiment is unusually quiet for this phase of the cycle, with previous market tops often coinciding with retail “overcrowding.” The absence of retail noise may imply further room for growth, as many crypto traders wrongly believe they’ve missed the opportunity, even as mainstream awareness lags. This shift could reshape price dynamics as institutional participation grows more dominant, potentially anchoring the market in the long run.

The growing presence of institutional capital in the crypto market has sparked mixed reactions within the crypto community. While some view it as a sign of adoption and mainstream acceptance, others worry about future sell-offs. The data from Lookonchain received mixed reactions, with some users calling it an “adoption freight train” and others warning of eventual dumps. However, the overall trend suggests that institutional momentum continues to shape the next chapter of the crypto market, with retail still disengaged.