- BlackRock’s $300M Ethereum buy signals renewed institutional interest in ETH alongside strong ETF inflows.
- Ethereum climbs above $4,590 after ETF demand and Fed comments fuel bullish momentum across crypto markets.
BlackRock has purchased Ethereum worth over $300 million in a series of recent transactions. The activity was tracked by Arkham, a blockchain analytics platform.
Notably, the data showed that wallets linked to BlackRock’s ETF activity received several large transfers of Ethereum. Most transfers came in blocks of 10,000 ETH, with each valued at around $46 million at the time. There was also a smaller deposit of 2,691 ETH in the same period.
Ethereum was moved from Coinbase Prime wallets to addresses connected to BlackRock. These transfers took place over five days and signal renewed interest from large institutions. BlackRock continues to grow its exposure to digital assets, expanding beyond Bitcoin into Ethereum-based products.
Ethereum ETFs Record Strong Inflows
At the same time, Ethereum spot ETFs saw a rise in demand. According to SoSoValue, daily net inflows reached $455 million. This was one of the highest totals in recent months. With this increase, total assets under management for Ethereum ETFs now stand at $29.89 billion.
Moreover, the flow of new funds comes after a slower period for Ethereum-based products. The return of capital suggests institutions are looking at Ethereum again as part of broader investment plans. Combined with direct purchases by firms like BlackRock, the data shows renewed interest from large financial players.
Ethereum traded above $4,590 after the new inflows and BlackRock’s activity. The asset opened the day near $4,399 and gained over 4% by press time. Over the past seven days, Ethereum rose by nearly 10%, and it is up almost 20% for the month.
The current rally pushed Ethereum past its previous all-time high set in 2021. It touched a new peak of $4,956 during Friday trading. The move followed several weeks of sideways price action and has brought new attention to the broader crypto market.
Fed Comments and Broader Market Moves
As we reported, recent remarks from Federal Reserve Chair Jerome Powell also played a role. Comments about possible rate cuts gave a boost to risk assets. Ethereum, along with Bitcoin and other large-cap cryptocurrencies, saw a short-term price increase as a result.
Even after a small pullback, Ethereum’s trend remains upward. If momentum continues, some analysts believe Ethereum could reach higher targets in the months ahead.
