BlackRock accumulated 11,098 BTC and 132,769 ETH over 48 hours, valued at approximately $852 million and $316 million respectively, for a combined total of about $1.17 billion. Spot On Chain attributed the transactions to wallets associated with BlackRock’s crypto funds, although the existing account cited Arkham Intelligence and an earlier identification by Lookonchain. The purchases were linked to BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust ETF (ETHA), where investor demand for new ETF shares requires the funds to acquire and custody the underlying assets. The scale of the transactions has been viewed as a sign of institutional confidence, though on-chain attribution is not definitive and the purchases do not guarantee immediate price gains. BlackRock’s ETF activity has also included July 2026 IBIT inflows of $183 million and a June 2026 transaction involving the sale of 3,671 BTC for about $230 million alongside the purchase of 10,566 ETH valued at around $17.7 million.