While BlackRock’s Bitcoin (BTC) and Ethereum (ETH) positions dominate headlines, a lesser-known asset is quietly outperforming the rest of the portfolio, and the broader crypto market.

According to real-time wallet tracking  data from Arkham Intel, BlackRock currently holds 83,220 SPX tokens, valued at approximately $139,810 as of June 16. That makes SPX (SPX6900) the third-largest holding in BlackRock’s on-chain crypto portfolio, behind only BTC and ETH.

SPX is currently trading at $1.65, with explosive short-term momentum: up 18.47% in the past 24 hours, making it the single biggest gainer in the top 100 cryptocurrencies by market cap on a daily basis.

SPX6900 is also up 24.58% over the past week, and a staggering 145.72% over the past month, and in the last year, the token has risen over 19,000%. 

SPX is now ranked 55th globally, with a market cap of $1.54 billion and more than $94 million in daily trading volume. The asset has also shown consistent upward pressure in both liquidity and volatility metrics, suggesting institutional and algorithmic participants may be active.

BlackRock’s exposure, though modest in absolute terms compared to BTC and ETH, appears to be well-timed. What’s most notable is that BlackRock hasn’t spoken publicly about SPX. There’s no press release, no formal mention in investor decks. Yet the on-chain data is clear: this position is real.