#BlackRockETHPurchase June 6, 2025: BlackRock purchased $34.7 million worth of ETH, following a $48.4 million acquisition just days earlier.
June 5, 2025: The firm added 27,846 ETH, valued at $73.21 million, bringing its total Ethereum holdings to approximately 1.49 million ETH, worth around $3.93 billion.
June 3, 2025: BlackRock reportedly sold $561 million in Bitcoin to fund Ethereum purchases, indicating a reallocation of crypto assets.
These moves coincide with the launch of BlackRock's iShares Ethereum Trust ETF (ETHA), designed to provide investors with exposure to Ethereum's price movements.
Strategic Implications
BlackRock's increased focus on Ethereum reflects a broader institutional trend favoring ETH over Bitcoin, driven by factors such as Ethereum's transition to a proof-of-stake model and its applications in decentralized finance (DeFi).
The firm's Ethereum acquisitions have contributed to a 10% rally in ETH's price, underscoring the market impact of institutional investments.
Overall, BlackRock's strategic pivot towards Ethereum highlights growing institutional confidence in the cryptocurrency's long-term potential.