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Major Shakeup in ETH Institutional Holdings: Bitmine Buys $174 Million, Surpasses BlackRock to Take the Top Spot
[Crypto World] The institutional ETH holdings landscape is shifting! Bitmine, a subsidiary of Fundstrat, scooped up 63,123 ETH this week, pouring in $174 million. This move propelled their total holdings to 3.623 million ETH (worth $9.96 billion), overtaking BlackRock to become the top institutional ETH holder.
In contrast, BlackRock took the opposite approach today, selling 43,000 ETH for $119 million. They now hold 3.605 million ETH ($9.91 billion), slipping to second place. With these two giants taking opposing positions—one buying, one selling—the game is intriguing. What is Bitmine betting on? What insight does BlackRock have? The market divergence is now clearly reflected in their holdings.