BlackRock is increasingly positioning itself as one of the largest Ethereum holding firms as recent data shows that it is rapidly expanding its Ethereum holdings.
Recent data from Arkham Intelligence shows that the BlackRock spot Ethereum ETFs have bought over $1.5 billion worth of Ethereum over the past 20 days.
BlackRock leads Ethereum ETFs
Notably, the data shows that BlackRock has purchased about $1.27 billion worth of Ethereum through its ETHA fund following multiple days of consistent inflows.
Meanwhile, its newer ETHB fund also recorded inflows of about $296.5 million worth of ETH during the same period, signaling sustained demand in BlackRock’s issued investment products.
You Might Also Like
As such, the total purchases from both funds stand at around $1.57 billion, reflecting continued demand from investors seeking Ethereum exposure through BlackRock’s ETF products.
The data further showed that the large amount of Ethereum acquired by BlackRock came after its ETHB maintained a consistent inflow trend during the stated period.
Notably, the fund recorded no single day of outflows over the past 20 days despite the persistent price volatility seen during the period.
BlackRock now holds 3,560,000 Ethereum
Following BlackRock’s consistent purchases made through the steady capital flowing into its funds, the firm now holds about 3.56 million ETH, worth about $8.69 billion as of September 17.
The massive increase in the amount of ETH tokens held by BlackRock is largely attributable to the large capital flowing daily into its multiple ETF products amid sustained demand that is consistently boosting its Ethereum position.
Be the first to comment