Spot ETFs #Ethereum are rising as BlackRock continues to buy

Ethereum spot market exchange-traded funds (ETFs) have recorded their fourth consecutive week of net inflows, adding 97,800 ETH and increasing total assets to 3.77 million ETH.

In the meantime, BlackRock is quietly accumulating Ether, holding 1.5 million ETH ($2.71 billion) in custody and tokenizing assets on the blockchain. This asset management firm has purchased $500 million worth of Ether over the past 10 days, reflecting institutional confidence in the altcoin, despite its price being 48% below its all-time high.