BlackRock Holds 1.5% of Ethereum; ETFs Fuel ETH Inflows

BlackRock boosted its Ethereum position by $158.6 million on July 10, lifting its holdings to 1.5% of the total supply. Over the past two months, the asset manager has accumulated $1.5 billion in ETH, coinciding with a surge in spot ETF inflows. BlackRock’s ETHA led 75% of the $211 million daily ETF net inflows, while Fidelity’s FETH and Grayscale’s ETH products recorded strong institutional demand, marking eight consecutive weeks of positive growth and $830 million of inflows in the last 30 days. Despite this buying spree, Ethereum remains capped below $3,000, trading around $2,980, even as on-chain metrics show large wallet balances rising and staking yields of 3–5% continue to attract long-term holders. Analyst Merlijn The Trader notes that ETH’s current accumulation pattern mirrors its 2016–2017 cycle, suggesting potential for a similar 10× breakout. The combination of heavy institutional investment, rising ETF flows and steady staking rewards supports short-term price stability and underpins long-term bullish momentum for Ethereum.