Blackrock Boosts Crypto Exposure by More Than $22bn in 2025, Finbold Analysis Reveals

BlackRock, the world’s largest asset manager, markedly increased its exposure to digital assets in 2025, adding over $22 billion to its on-chain cryptocurrency portfolio during the year, according to Finbold’s 2025 Cryptocurrency Market Report.

From January 1 to December 31, 2025, the combined value of BlackRock’s Bitcoin and Ethereum holdings climbed from $54.8 billion to $77.3 billion. This represents an annual rise of just over 41%, based on figures from blockchain analytics provider Arkham.

Bitcoin continued to form the core of BlackRock’s crypto strategy throughout 2025. Holdings grew by more than 217,000 coins, increasing the value of its Bitcoin position from just over $51 billion to around $67 billion by the end of the year. This equates to a $15.98 billion uplift, or 31% year-on-year growth.

Ethereum, meanwhile, recorded the strongest growth rate. BlackRock’s ETH holdings more than tripled over the year, expanding by approximately 2.4 million ETH. In value terms, exposure rose from $3.6 billion to more than $10 billion, delivering a 184% annual increase. The surge reflects rising institutional interest in Ethereum’s applications across tokenisation, settlement infrastructure and yield-focused use cases.

Commenting on the findings, Diana Paluteder, Research Analyst at Finbold, said the data highlights a notable shift in institutional behaviour:

“What stands out in BlackRock’s 2025 activity is not just the scale of capital deployed, but the consistency. Accumulation continued through periods of market consolidation, reinforcing the idea that large institutions are treating crypto as a strategic long-duration allocation.”

Jordan Major, Editor at Finbold, added that the structure of the portfolio underlines where institutional confidence remains strongest:

“Bitcoin continues to anchor BlackRock’s crypto exposure, but Ethereum’s outsized growth in 2025 signals increasing confidence in its role within tokenization, settlement, and yield-bearing infrastructure. Together, the data points to a maturing institutional approach to digital assets.”

Overall, Finbold’s analysis suggests that BlackRock’s expanded crypto exposure during 2025 was driven by sustained demand for regulated access to digital assets, reinforcing the view that institutional adoption has moved into a more structural phase.