BlackRock's spot Bitcoin and Ethereum ETFs absorbed roughly $1 billion in crypto over a two-day stretch, on-chain data shows, as the firm bought 11,098 BTC and 132,769 ETH to back new fund shares. Separate flow data for the same window shows US spot Bitcoin and Ethereum ETFs pulling in a combined $825.8 million in a single session, led by BlackRock's own funds.
BlackRock bought 11,098 Bitcoin and 132,769 Ethereum in a 48-hour stretch, a purchase worth roughly $1 billion tracked on-chain by Arkham Intelligence. The size of the buy stands out, but the mechanism behind it matters more than the headline number.
The purchases flow through BlackRock's iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust ETF (ETHA), meaning they are driven by investor demand for ETF shares rather than a discretionary bet on crypto prices. When investors buy shares of a spot Bitcoin ETF like IBIT, the fund must acquire the underlying asset to back those shares, and that obligation is what moved the coins.
Broader ETF data confirms the demand
The BlackRock buying lines up with wider flow data for the same window. US spot Bitcoin and Ethereum ETFs together pulled in $825.8 million in the August 20 session, according to Farside Investors data. Spot Bitcoin ETFs took in $606.3 million, led by IBIT's $503 million. Spot Ethereum ETFs added $219.5 million, led by ETHA's $173.3 million.
Bitcoin remains the dominant institutional product, but the Ethereum figure was large enough to show broader participation. As a result, the day looked less like a single-asset allocation and more like demand across both funds.
A pattern that has built through the year
BlackRock's ETF activity has stayed consistently active through 2026. In July, IBIT alone reported $183 million in inflows from client purchases of Bitcoin exposure. In June, the firm sold 3,671 BTC worth approximately $230 million while buying 10,566 ETH valued at around $17.7 million, part of what appeared to be a rebalancing tied to ETF redemption and creation flows.
Earlier in the year, BlackRock also transferred approximately 3,290 BTC worth roughly $298 million and 5,692 ETH worth around $18 million to Coinbase Prime, the custodial arm that holds assets for both IBIT and ETHA. Every share created requires real crypto to be purchased and held in custody, removing supply from the open market.
Sources: Crypto Briefing, NewsBTC
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