Institutional interest in $ETH is growing

Interest in risk coincides with a new wave of institutional purchases by BlackRock. The asset manager has been buying ETH for two consecutive weeks, adding another $163.6 million in Ethereum to its reserves.

The analytical company Lookonchain also reported that whales are accumulating ETH, withdrawing tokens worth millions of dollars in recent days. Abraxas Capital, an institutional player, withdrew 44,612 ETH ($123 million) from Binance and Kraken on Wednesday.

Retail trading volumes on centralized exchanges (CEX) remain near multi-year lows. However, long-term Bitcoin holders continue to accumulate assets. In the case of Ethereum, there is active speculation and accumulation from both retail and institutional investors. This is noted by traders and analysts.$HOME $KAIA