๐ฅ Update: BlackRock's Spot Ethereum ETF buys 22,060 ETH worth $54.8 million on July 1! ๐ฐ
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๐ข What's new?
โ The BlackRock Spot Ethereum ETF (ETHA) has purchased 22,060 Ethereum ($ETH).
โ The value of these purchases was approximately $54.8 million.
โ This transaction took place on July 1.
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๐ก Why is this important?
โ These purchases demonstrate strong and sustained institutional demand for Ethereum.
โ They reinforce the role of ETFs as a major buyer of major cryptocurrencies.
โ Despite outflows from Bitcoin ETFs on the same day, this highlights the increasing appeal of Ethereum among institutional investors.
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๐ Outlook:
โ Continued large purchases like this may contribute to supporting the price of Ethereum.
โ Indicates growing confidence in digital assets as part of organized investment portfolios.
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โDo you think strong inflows into Ethereum ETFs will push ETH price to new highs soon?
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