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Ethereum receives a million-dollar boost from BlackRock

The largest asset management company in the world made a purchase of 52.8 million dollars through its iShares Ethereum Trust (ETHA).

BlackRock, the world's largest asset manager, took a significant step in the cryptocurrency market by purchasing 52.8 million dollars in ethereum (ETH) through its exchange-traded fund (ETF) iShares Ethereum Trust (ETHA), according to data from the SoSoValue platform.

ETHA is an instrument that allows investors to gain exposure to the price of ETH without the need for them to acquire or manage it directly.

BlackRock, for its part, makes these purchases to back the fund's holdings and meet the demand from investors who buy shares of ETHA. Each share of the ETF represents a fraction of the ether that the fund holds.

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