BlackRock reactivates its purchases of Ethereum after a series of strong and regular acquisitions. It is a very well-rehearsed surgical operation: 2,001,081 ETH are now under the control of the giant, through its ETF ETHA. This represents 1.65% of the total supply of Ethereum. In just one week, more than 900 million dollars entered the fund. On July 10, it even acquired 106,827 ETH in a single day. No word from Larry Fink. No statement. Just regulatory filings.
This silence contrasts with the impact: the price of ETH rose by 7% to $3,000. The ETF, for its part, gained 17% in the week, reaching $22.80. What about the volumes? $800 million per day, two days in a row. Something never seen for this fund launched a year ago.
And this is not just a trend. Nate Geraci summarized it in a few words on X: "The iShares Ethereum ETF now holds more than 2 million ether, which is 1.65% of the total supply."
This concentration raises questions. Is it not supposed that Ethereum represents a decentralized model? Can we really talk about open finance if a handful of players block access to the supply? Crypto promised something else.