BlackRock Loads Up on $1 Billion of Ether Amid Price Recovery
BlackRock's Ethereum ETF has accumulated over $1 billion in Ether (ETH) in just nine days, with no net selling activity during this period. This significant buying spree was highlighted by on-chain intelligence platform Arkham on X.
The asset manager appears to view ETH as a core holding rather than a speculative trade, as it has maintained its buying streak despite the cryptocurrency's price recovery over the last two weeks. According to Arkham, BlackRock bought ETH at an estimated average acquisition price of around $3,060 per coin.
This move stands out in a market dominated by sharp reversals and profit-taking, as investing over $1 billion in Ether is a major statement of confidence in the digital asset. The absence of any net-selling sessions suggests deliberate accumulation rather than simple opportunistic trading.