World's Biggest Asset Manager BlackRock Bought $383M Of Crypto Mining Stocks

BlackRock Inc. BLK, the world's top asset manager, which controls an astonishing $9 trillion, invested in two publicly traded cryptocurrency mining companies.

What Happened: BlackRock's Form 13F SEC filings reveal that it has acquired stakes in cryptocurrency mining firms Marathon Digital Holdings MARA and Riot Blockchain Inc. RIOT.

More precisely, the asset management behemoth acquired 6.71% of Marathon Digital Holdings, equivalent to about $207 million, and 6.61% of Riot Blockchain, equivalent to about $175 million.

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

The same asset manager's iShares Russell 2000 Value ETF ranks as the third top holder of the two stocks as well.

Price Action: Marathon Digital Holdings shares were up 9.68% and were trading at $34.96 at press time.

Riot Blockchain's stock was trading at $34,92, gaining 8.84% since the stock market opened.