World’s Largest Asset Manager BlackRock Bought $ 383 Million in Crypto Mining Shares

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BlackRock Inc. (NYSE: BLK), the world’s leading asset manager, which controls a staggering $ 9 trillion, has invested in two publicly traded cryptocurrency mining companies.

What Happened: BlackRock’s Form 13F SEC filings reveal it has acquired stakes in cryptocurrency mining companies Marathon Digital Holdings (NASDAQ: MARA) and Riot Blockchain Inc. (NASDAQ: RIOT) .

Specifically, the asset management giant acquired 6.71% of Marathon Digital Holdings, or roughly $ 207 million, and 6.61% of Riot Blockchain, or roughly $ 175 million.

Also Read: If Bitcoin Bulls Are Right, The Environmental Damage Would Be Disastrous: Report

According to ETF.com, BlackRock’s iShares Russell 2000 ETF is the largest holder of MARA, with 2.14 million shares worth over $ 68 million at their current price, and 1.9 million ‘RIOT shares, worth nearly $ 61 million at their current price.

The iShares Russell 2000 Value ETF of the same asset manager also ranks third among holders of both stocks.

Price Action: Shares of Marathon Digital Holdings were up 9.68% and were trading at $ 34.96 at time of publication.

Riot Blockchain’s stock was trading at $ 34.92, gaining 8.84% since the exchange opened.

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