Arkham claims that BlackRock, the world's largest asset manager, recently purchased some Ethereum (ETH).
BlackRock has acquired a significant amount of Ethereum, with transactions ranging from 9,000 to over 58,000 ETH valued between $23 million and $61 million.
The increase in Ethereum balances and profits suggests that BlackRock's investment may be part of a broader strategy towards digital assets.
Despite a high volume of transactions, Ethereum's price has remained stable, indicating a consolidation phase in the market.
Additionally, BlackRock deposited over 5,362 Bitcoin on Coinbase, aligning with its iShares Bitcoin Trust operations and highlighting Bitcoin's growing acceptance in traditional finance.
Arkham claims that BlackRock, the world’s largest asset manager, recently purchased some Ethereum (ETH).
Market data demonstrated a steady increase in Ethereum balances and profits, suggesting that the investment may be part of a larger strategy. Several transactions involving BlackRock’s acquisition of 9,000 to over 58,000 ETH valued between $23 million and $61 million were documented, based on data from Coinbase Prime. The substantial Ethereum purchase from BlackRock serves as proof that large businesses are interested in digital assets
Ethereum’s Fundamentals Changing
ETH transactions have increased at exchanges recently, although the price has remained stable.
The total amount of ETH sent to exchanges between May 27 and June 4 illustrates that the flow was inconsistent. Ethereum’s price remained stable, ranging between $2,470 and $2,650 amid a high volume of transactions.
However, ETH is in a consolidation phase, indicating that demand was matched by selling activity.
BlackRock deposited over 5,362 Bitcoin on Coinbase within two days. This significant movement closely aligns with the operations of BlackRock’s iShares Bitcoin Trust (IBIT), a spot Bitcoin ETF that requires actual Bitcoin holdings to back ETF shares.
The deposits likely indicate Bitcoin’s role in supporting new ETF shares. This surge strengthens the bulls’ resolve and confirms Bitcoin’s increasing acceptance in traditional finance.
