According to Finbold’s report, BlackRock’s aggressive push into digital assets accelerated in the third quarter of 2025. Between July 1 and September 30, the value of BlackRock’s on-chain crypto holdings grew from $79.63 billion to $102.09 billion, representing a 28.2% quarterly increase.
Also Read | Bitcoin eases to $121K, Ethereum and altcoins also witness declineBitcoin contributed $10.99 billion in gains (a 14.6% rise), while Ethereum posted the most dramatic move, soaring by $11.46 billion, a 262% increase that more than tripled BlackRock’s ETH exposure.The shift marks the first time Ethereum has outpaced Bitcoin in BlackRock’s quarterly portfolio growth. As of October 8, the firm’s Ethereum holdings reached 3.89 million ETH valued at $18.26 billion, up from $15.91 billion at the start of the month, underscoring how aggressively the world’s largest asset manager is leaning into ETH, the report said.
“Ethereum has clearly become the breakout story of BlackRock’s portfolio strategy. While Bitcoin remains the backbone, the scale of ETH inflows we’re now seeing shows institutional demand is rapidly broadening with a decisive reallocation of capital at the highest levels of traditional finance,” said Jordan Major, Senior Analyst at Finbold.Momentum has only accelerated in October. Data shows that between October 1 and October 8, BlackRock’s portfolio expanded by another $10.43 billion, averaging over $1 billion in fresh value per day. Ethereum accounted for $2.34 billion of this increase, while Bitcoin added $8.08 billion.The latest quarterly performance builds on an already strong first half of the year. In H1 2025, BlackRock’s portfolio grew by $23.91 billion, rising from $54.77 billion on January 1 to $78.67 billion on June 30. At the time, Bitcoin gains contributed $23.3 billion of that total, while Ethereum added $678.9 million.
Put together, BlackRock has added over $46 billion in crypto value since January 1, underscoring its position as the largest institutional holder of digital assets
As of October 8, its Bitcoin stash stood at 769,220 BTC ($95.96 billion), while its Ethereum holdings reached 3.89 million ETH ($18.26 billion).
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BlackRock’s outsized inflows continue to dwarf competitors. On October 6 alone, its iShares Bitcoin Trust (IBIT) accounted for 85% of all BTC ETF inflows, adding 6,447 BTC worth over $805 million. Its iShares Ethereum Trust (ETHA) captured 88% of ETH ETF inflows that same day, absorbing 45,672 ETH valued at $212.9 million.
Since the launch of spot ETFs earlier this year, BlackRock has repeatedly led the market, with inflows often exceeding those of all rivals combined.
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