#BlackRockETHPurchase BlackRock's Ethereum purchase is a significant development in the cryptocurrency space. Here are some key points about their investment ¹ ² ³:

- *$50 Million Investment*: BlackRock bought $50 million worth of Ethereum, with transactions ranging from 9,000 to 58,000 ETH, valued between $23 million and $61 million.

- *Consecutive Inflows*: BlackRock's iShares Ethereum Trust has seen 12 consecutive days of inflows, adding 27,846 ETH worth $73 million, bringing total holdings to $3.93 billion.

- *Institutional Interest*: This investment signals rising institutional interest in Ethereum, with BlackRock and Fidelity driving over $150 million in recent ETH inflows.

- *Market Impact*: Ethereum's price has shown resilience, trading at $2,605.38 with a 2.37% increase in the past 24 hours. Analysts predict potential breakout, with some speculating ETH could reach $5,000.

*Recent Transactions:*

- *Bitcoin Sale*: BlackRock sold $561 million worth of Bitcoin to buy Ethereum, withdrawing 27,241 ETH from Coinbase, valued at $69.25 million.

- *Ethereum Holdings*: BlackRock's Ethereum holdings now stand at 1.4 million ETH, worth approximately $3.93 billion.

*Market Outlook:*

- *Bullish Sentiment*: Institutional investors are accumulating ETH for the long term, with exchange balances at seven-year lows.

- *Potential Breakout*: Ethereum's technical pattern suggests potential for significant price movement, with resistance at $3,900 and potential targets above $5,000.