BlackRock Buys $500M in Ethereum in Just 10 Days: Report
Ethereum is getting big attention from Wall Street. BlackRock, the worldās largest asset manager, just bought over $500 million worth of Ethereum (ETH) in 10 days, according to Arkham.
š What Did BlackRock Buy?
BlackRock made these buys through its iShares Ethereum Trust (ETHA).
On June 4, it bought $73.2 million in ETHOn June 5, it added $34.7 million moreNow, BlackRock holds over $4.85 billion in Ethereum
š¦ Other Big Firms Are Buying Too
BlackRock isnāt alone. Other top companies are buying Ethereum ETFs:
Fidelity bought $29.8 million in ETH on June 2 using its FETH ETFU.S. Ethereum ETFs have gained $3.34 billion in net inflows in just 3 weeks
š Bitcoin ETFs Are Losing Money
While Ethereum is gaining, Bitcoin ETFs are seeing money flow out:
On June 5, Bitcoin ETFs lost $278.4 millionBig sellers include ARK Invest, Fidelity, Bitwise, and GrayscaleOver 2 weeks, Bitcoin ETF inflows slowed even though the total is still $44.2 billion
š£ļø What BlackRockās CEO Said
BlackRock CEO Larry Fink shared his thoughts:
āEthereum and blockchain can grow fast with more trust, better data, and clear rules.ā
He compared Ethereumās growth to how mortgages and high-yield bonds started small but grew with more analytics and market trust.
š Whatās Next for Ethereum?
Ethereumās price has jumped:
From $1,790 to over $2,700 in 1 month ā a 54% riseAs of June 7, ETH is trading at $2,516
Itās now forming a Right-Angled Descending Broadening Wedge, a pattern that may lead to big price moves.
Even after a brief drop during the Trump vs. Musk drama, Ethereum bounced back fast.
š Summary
BlackRock just spent $500M+ on Ethereum in 10 daysEthereum ETFs are hot ā Bitcoin ETFs are coolingCEO Larry Fink says better tools and trust will help crypto growEthereum is rising fast and may be ready for another breakout
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