#USCryptoWeek BlackRock now owns more than 2 million Ethereum.💥💥💥
$ETH ✨✨✨✨✨✨
#BTCBreaksATH BlackRock is advancing its pieces. Discreetly, but with a determination that leaves no room for doubt. After conquering the bitcoin market, it is now firmly establishing itself in the Ethereum one. Its ETHA ETF is smashing records, its purchases are ongoing. Opportunity? Soft takeover? The asset management giant is everywhere in the crypto universe. So, what is BlackRock really looking for in this institutional race towards Web3?.
✨Ethereum: BlackRock, a soft hostage-taking?.✨✨✨💥
BlackRock is reactivating its Ethereum purchases 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 ETHA ETF. This represents 1.65% of the total Ethereum supply. In just one week, over 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 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 before for this fund launched a year ago.
And this is not just a trend. Nate Geraci summed it up in a few words on X: 'The iShares Ethereum ETF now holds over 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 actors block access to the supply? Crypto promised something different.