BlackRock Boosts Ethereum Holdings by 3.6% to $4.45 Billion

BlackRock, the world’s largest asset manager, has significantly increased its Ethereum (ETH) holdings, purchasing $158.6 million worth of the cryptocurrency. This acquisition brings BlackRock’s total Ethereum holdings to approximately $4.45 billion, which represents about 1.5% of all ETH in circulation. This move is part of a broader trend of institutional accumulation, with BlackRock having purchased $1.5 billion in ETH over the past two months.

This latest acquisition by BlackRock comes amid a surge in institutional interest in Ethereum. Over the past 30 days, institutions have collectively bought $830 million in ETH, with BlackRock, SharpLink Gaming, and Bit Digital leading the charge. Notably, Bit Digital has entirely shifted its holdings from Bitcoin to Ethereum, now holding $254.8 million in ETH. SharpLink Gaming has also adopted Ethereum as a treasury asset, holding 176,271 ETH worth over $490 million.

On-chain analysts have observed a significant increase in whale wallet activity and coordinated buys across large wallets. Merlijn The Trader, a popular analyst, highlighted similarities between the current Ethereum accumulation phase and the 2016–2017 cycle, suggesting a potential for substantial price appreciation. Despite the institutional bullishness and growing ETF inflows, Ethereum’s price action has remained relatively subdued, with concerns about the sustainability of the current rally.

Ethereum’s price has struggled to reclaim $3,000, with some analysts pointing to the risk of a broader Bitcoin sell-off stalling Ethereum’s upside. However, the long-term setup continues to favor Ethereum. Most stablecoins continue to be issued on Ethereum’s ERC-20 standard, and new efforts by the Ethereum Foundation to regain community confidence could inspire further upside for Ethereum. With ETH ETFs gaining traction, institutional allocations rising, and whales leading the charge, Ethereum may be building quietly toward its next breakout.