Crypto analytics firm LookOnchain revealed that investment firm BlackRock sold 182 Bitcoin worth $11.34 million and bought 7,574 Ethereum worth $18.52 million. BlackRock currently holds 369,640 Bitcoin valued at $23 billion and 414,168 Ethereum worth $1.01 billion. The purchase of Ethereum instead of Bitcoin sparked speculation that investors are more bullish on Ethereum. BlackRock's head of digital assets highlighted the benefits of Bitcoin as a decentralized asset, but noted that institutional investors have different sentiments on Ethereum. The U.S. SEC approved the listing of BlackRock's Bitcoin ETF, and the firm also launched its spot Ethereum ETF. BTC has experienced a 49% surge this year, while ETH saw a 15% increase. Analysts predict BTC could reach $85,000 by October 16, 2024.



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