Ah, dear reader, gather ’round as we delve into the curious case of BlackRock, the titan of finance, which has recently embarked on a most audacious escapade into the realm of Ethereum. In a mere span of ten days, this behemoth has amassed a staggering $500 million worth of ETH, as reported by the ever-watchful Arkham. One might say, “What a splendid way to spend one’s time!”
On the fateful day of June 4, the fund, with all the grace of a ballet dancer, added $73.2 million in ETH to its coffers. The very next day, it continued its pirouette with an additional $34.7 million. Thus, the grand total of its holdings now stands at a princely sum of over $4.85 billion in ETH. One can only imagine the glee in the boardroom!
BLACKROCK BUYING SPREE: $500M ETH IN 10 DAYS
First they came for the BTC, now they are coming for the ETH.
What happens next?
— Arkham (@arkham) June 7, 2025
But lo! Other firms, not wishing to be left behind in this grand spectacle, have also joined the fray. On June 2, Fidelity, with a flourish, purchased $29.8 million worth of ETH through its FETH Ethereum ETFs. Such purchases are propelling Ethereum ETF inflows to dizzying heights, with U.S.-based spot Ethereum ETFs now boasting over $3.34 billion in net inflows over the past three weeks. Truly, a sight to behold!
Meanwhile, in a rather ironic twist, spot Bitcoin ETFs are experiencing a rather unfortunate outflow of funds. In the same ten-day period, Bitcoin ETFs recorded a staggering $278.4 million in outflows on June 5 alone, led by the ever-ambitious ARk investment and significant withdrawals from Fidelity, Bitwise, and Grayscale. It seems the tides of fortune are shifting!
Our protagonist, BlackRock’s CEO Larry Fink, has shared his musings on the potential of Ethereum. He posits that the role of Ethereum and blockchain technology could flourish dramatically, provided there is an increase in acceptability, transparency, and improved analytics. “Ah, the sweet nectar of liquidity and transparency!” he exclaims, as if quoting a philosopher of old.
Fink draws a parallel to the early days of the mortgage and high-yield markets, which, like a fine wine, matured slowly but surely as better analytics and market acceptance blossomed. “I truly believe we will see a broadening of the market of these digital assets,” he proclaims, with the confidence of a man who has seen many a market rise and fall.
And what, you may ask, lies ahead for Ethereum? The price has soared from $1,790 to a dizzying height of over $2,700 in the past month—a remarkable 54% increase! It appears to be on the brink of a breakout, forming a pattern known as a “Right-Angled Descending Broadening Wedge.” Such patterns, in the annals of trading history, have often heralded significant price movements.
As of June 7, Ethereum is trading at $2,516, according to the ever-reliable CoinMarketCap. It did experience a brief dip during a recent market drama involving the illustrious Elon Musk and the ever-controversial Donald Trump, but fear not, for it quickly regained its footing. Such is the nature of the market, a fickle mistress indeed!
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2025-06-07 23:01