#BlackRockETHPurchase
BlackRock’s iShares Ethereum Trust ETF (ETHA) acquired over 1.35 million ETH ($3.71 billion), including $513 million in six days, signaling strong institutional confidence in Ethereum. This follows the SEC’s 2024 approval of spot Ethereum ETFs, with ETHA seeing $2.93 billion in inflows. Ethereum’s role in DeFi and smart contracts, plus its proof-of-stake transition, drives this interest. Despite price volatility ($3,200-$3,830), BlackRock’s involvement may stabilize ETH and boost its long-term value, potentially reaching $8,000 if ETF staking is approved. This could spark an altcoin rally, though retail sentiment remains cautious.
