BlackRock has recently drawn significant attention by massively purchasing Ethereum (ETH) over the past few weeks. As the world's largest asset management firm, BlackRock has secured a total of 3 million ETH through its iShares Ethereum ETF, which is worth approximately 5.235 trillion won (about $3.8 billion) at current market prices.
Notably, in just 18 days from July 12th to recently, they added an additional 1 million ETH (about 1.745 trillion won), increasing their holdings by over 50%. BlackRock continued purchasing even when Ethereum's price surpassed $3,800, demonstrating a strong buying intention by taking advantage of the market downturn.
Market expert Nate Geraci explained that "BlackRock's ETF holds approximately 2.5% of Ethereum's total circulating supply". The current Ethereum circulation is estimated at about 121 million, and BlackRock's influence is gradually increasing. Particularly, it is noted that they acquired over 60% of their total holdings in July, suggesting this was a focused buying period for Ethereum.
This large-scale purchase shows that BlackRock is leading the institutional investor-driven demand increase for Ethereum. Indeed, capital inflows into Ethereum spot ETFs are growing, which is expected to have a positive impact on the cryptocurrency ETF market overall.
With institutional funds flowing in, Ethereum has shown a strong upward trend, surging 52% over the past month. Experts predict that if this trend continues, Ethereum may soon break its all-time high.
Although there has been a price adjustment in recent days, BlackRock's purchase is seen as a strategy based on long-term confidence in the Ethereum ecosystem. Investors are watching the movements of major institutions, with interest in whether Ethereum can secure a position as a digital asset similar to gold.
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