BlackRock Holds $67B Crypto, Vanguard Buys $7B in Bitcoin ETFs, Abraxas Acquires 185,309 ETH as ETH Surges 44%

BlackRock has made substantial cryptocurrency acquisitions, purchasing $356 million worth of Bitcoin in a single day and $1 billion over the past week. The firm now reportedly holds $67 billion in crypto assets. Additionally, BlackRock acquired $17.6 million worth of Ethereum.

Vanguard has disclosed a $7 billion investment in Bitcoin spot exchange-traded funds (ETFs).

London-based Abraxas Capital withdrew 185,309 Ethereum (ETH), valued at $399 million, from exchanges within 72 hours as Ethereum surged 44% from $1,800 to $2,600. This marks the largest three-day gain for ETH since January 2021 and the second-largest in the past eight years. Abraxas previously acquired 2,949 Bitcoin, valued at over $250 million, between April 15 and 18.

Ethereum's price rose above $2,500, with some reports noting an increase of over 80% in the past 30 days and nearly 60% in a few weeks. Over the last three days, ETH is up 38% to 40%. Trading volume in ETH perpetuals has surpassed that of Bitcoin during this period, and the ETH/BTC ratio saw its first meaningful breakout in two months. During the recent price surge, $42 million in ETH ETF outflows were recorded.

Other large Bitcoin purchases were reported, including single transactions of $93.7 million and $98 million.

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