BlackRock Extends Ethereum Accumulation Streak with Over $492M in Institutional Inflows

BlackRock has continued to expand its Ethereum (ETH) holdings through its iShares Ethereum Trust (ETHA), accumulating ETH for 9 consecutive trading days. During this period, the firm added over $492 million worth of ETH to the ETF. On June 5 alone, BlackRock purchased 27,846 ETH, valued at $73.21 million, bringing its total holdings to approximately 1.49 million ETH.

The value of these holdings is currently estimated at $3.93 billion. This sustained buying activity has coincided with a major series of large Ethereum transfers from Coinbase Prime, adding to signs of rising institutional involvement.

Data captured from a blockchain transaction tracker shows 15 large transfers from Coinbase Prime to a wallet labeled as BlackRock’s ETHA address. These transfers were executed over multiple days and ranged between 2,418 and 10,000 ETH per transaction.

The largest single transfer recorded was 10,000 ETH, equivalent to $26.69 million at the time of movement. In total, the 15 transactions involved more than 120,000 ETH, valued at over $300 million.

The repeated frequency and consistent stream of these transfers show that they are organized and planned. Many transactions were made in the range of 9,000 to 10,000 ETH, which means the trades were likely planned, not random or quick ones.

The distribution of ETH corresponds to the inflows of ETH stated by BlackRock, proving the company’s transparency on the blockchain. It also happens at a time when there is extra attention on Ethereum being used for regulated financial products.