BlackRock has added 3,840 ETH, valued at approximately $10.7 million, to the balance sheet of its iShares Ethereum Trust (ETHA) Fund in the past 24 hours.
This latest purchase is part of the asset manager’s ongoing accumulation spree. On February 4, 2025, BlackRock reportedly purchased 100,535 ETH, worth approximately $276 million. The fund’s total Ethereum holdings now stand at 1,356,774 ETH, with a market value of around $3.71 billion.
Market analysts view BlackRock’s aggressive Ethereum acquisitions as a strategic bet on ETH’s long-term value. The asset has been experiencing strong positive momentum, with some analysts attributing the surge to anticipation surrounding the Pectra upgrade, which promises to enhance Ethereum’s scalability and efficiency.
Significantly, BlackRock has not recorded any outflows from ETHA since January 20. The ETF has seen consistent inflows over the past few weeks, reinforcing a bullish market sentiment. On February 6, ETHA was the only spot ETH ETF with any inflow, adding $10.7 million, per data from SoSoValue.
ETHA’s market activtiy from January 20 to February 6. Source: SoSoValue.
BlackRock isn’t the only institutional investor increasing its ETH exposure. Fidelity has also been actively accumulating Ethereum, reportedly purchasing $20 million worth of ETH on February 6.
Meanwhile, Canadian biotech firm Moss Genomics is doubling down on Ethereum as part of its new treasury strategy. By the end of January 2025, the company had acquired 160 ETH, and on February 3, it announced an additional purchase of 460 ETH. Moss Genomics is also launching a new capital raise to acquire more ETH.
The firm sees Ethereum as both a viable alternative to fiat currencies and a complementary asset to its business model. It aims to leverage blockchain technology to enhance its genomics research, explore new blockchain-related opportunities, and diversify its financial operations.
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