BlackRock Adds $300M to Ethereum Holdings, Tops $7B
BlackRock, the world’s largest asset manager, purchased an additional $300 million of Ethereum (ETH), raising its total holdings above $7 billion, or roughly 2 million ETH. This follows a recent spree in which BlackRock acquired over $500 million in ETH, outpacing its Bitcoin inflows. The firm is also seeking permission for ETH staking in its iShares Ethereum ETF to generate yield. Institutional demand for Ethereum is growing, with Fidelity and Grayscale also increasing ETH exposure. The news sparked a 1.75% uptick in ETH price, which currently trades around $4,520 after rebounding from $4,320. Analysts say continued ETF approvals and inflows could fuel further short- and medium-term rallies.
Bullish
BlackRock’s $300 million Ethereum purchase signals strong institutional confidence. Similar large inflows in July drove ETH above key resistance levels. Combined with ongoing ETF approvals and staking initiatives, this boost in demand is likely to underpin further price appreciation. Historically, institutional buys have preceded medium-term rallies as retail investors follow suit. The 1.75% price rise on the announcement, followed by a rebound from $4,320 support, indicates renewed buying interest. If ETF flows and staking yields continue, ETH could retest recent highs around $4,760 in coming weeks. Therefore, the market outlook is bullish, with potential catalysts from additional ETF inflows and broader spot ETF approvals.