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With the approval of a series of spot Bitcoin (BTC) exchange-traded funds (ETFs) at the start of 2024, the biggest manager by assets under management (AUM), BlackRock (NYSE: BLK), joined the cryptocurrency fray and became one of the largest digital assets owners in the world. The finance giant’s cryptocurrency portfolio, by press time on January 23, 2025, grew to a staggering total value of $61.46 billion, with its biggest holdings made up of BTC, Ethereum (ETH), and the stablecoin USDC. At press time, BlackRock owns about 569,000 Bitcoins, worth a total of $57,75 billion, per the data retrieved by Finbold from Arkham Intelligence .  Picks for you This bullish setup maps Ethereum’s price roadmap to $7,400 in 2025  8 mins ago Crypto trader ...

The verdict in the SEC-Grayscale case was accompanied by a short-term price respite in the crypto market. A brief institutional accumulation spree was also registered. However, neither of the two trends could pass the test of time. The aggregate valuation of the market is down to $1 trillion yet again, with BTC trading below $26,000. Also Read: 99% Nigerians ‘Aware’ About Crypto, 90% Ready to ‘Invest’ Crypto Asset Managers Register AUM Declines Recent research by CCData revealed that Bitcoin-based investment products saw a decline of 12.8% in AUM to $21 billion. Consequentially, the market share of these products shrank to 70.5%. Even Ethereum-based products shared the same fate and registered an AUM drop of 12.2% to $6.75 billion. Grayscale’s apex GBTC trust added $1.17 billion to its AUM on Aug. 29 and 30 following the verdict announcement. This market saw an increase of 7.20%. However, on the overall front, it noted a decline. The report hi...