$ETH One of the most significant factors contributing to the bullish momentum of Ethereum is the interest from institutional investors, particularly BlackRock, the world's largest asset manager. Since May, BlackRock has acquired over 214,000 ETH worth approximately $560 million through its iShares Ethereum Trust. This strategic position is widely viewed as a preparation for the launch of a spot Ethereum ETF, following the successful launch of a Bitcoin ETF earlier this year.

BlackRock's actions highlight a shift in institutional strategy, where the liquidity of Ethereum, the staking ecosystem, and real-world applications are becoming increasingly attractive. Notably, BlackRock reallocated its portfolio, selling Bitcoin worth $561 million and adding ETH worth $69.25 million. When major players like BlackRock take such steps, the market pays attention.