BlackRock Buys $300 Million More Ethereum, Pushing Total Holdings Past $7 Billion

• This isn’t the first time BlackRock did something similar, as last month, the company bought more than $500 million in ETH
• Data shows that multiple institutions are chasing Ethereum, including Fidelity and Grayscale
• Following the news, ETH rose by roughly 1.75%

BlackRock, one of the world’s largest asset managers, just purchased over $300 million worth of Ethereum (ETH), according to the Arkham Intelligence data. 

This isn’t the first time BlackRock did something similar, as last month, the company bought more than $500 million in ETH, surpassing its BTC inflows by $50 million.

The investment company is going big lately on Ethereum. For instance, reports say that on July 16, BlackRock bought more Ethereum in one day than ever before, about $499.2 million worth. This sizable purchase brought the company’s total ETH holdings to over $7 billion, which is 2 million ETH, give or take.

Also, BlackRock is among the first to seek permission for ETH staking within its iShares Ethereum ETF, making Ethereum a yield-generating investment.

However, BlackRock isn’t the only one interested in ETH. Data also shows that multiple institutions are chasing Ether…

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