Global asset management giant BlackRock has executed a significant acquisition of 59,309 Ethereum (ETH), amounting to approximately $223.18 million, as reported by blockchain analytics. This substantial purchase underscores the growing institutional appetite for the second-largest cryptocurrency and aligns with BlackRock's recent foray into spot Ethereum exchange-traded funds (ETFs).
"JUST IN: BlackRock buys 59,309 ETH worth $223.18 million," stated a tweet from Whale Insider, highlighting the scale of the transaction.
The acquisition follows the recent launch of BlackRock's iShares Ethereum Trust ETF (ETHA), which began trading on Nasdaq on July 23, 2024, after receiving approval from the U.S. Securities and Exchange Commission (SEC) in May 2024. ETHA provides investors with regulated exposure to Ether's price movements without requiring direct cryptocurrency ownership. The fund has quickly gained traction, reportedly accumulating over $1 billion in cumulative net inflows by August 2024 and experiencing single-day inflows as high as $440 million in late July 2025.
BlackRock, the world's largest asset manager with over $10.5 trillion under management as of March 2024, has been a prominent player in legitimizing cryptocurrency investments for traditional finance. Beyond its successful iShares Bitcoin Trust (IBIT) and its tokenized money market fund (BUIDL), the firm's strategic moves into Ethereum reflect a broader commitment to digital assets. This large ETH purchase could be a move to seed or manage the assets within its newly launched Ethereum ETF.
The investment also comes amidst a notable trend of increasing institutional investment in Ethereum, with recent reports indicating that inflows into Ethereum-focused products have, at times, outpaced those into Bitcoin. This shift suggests a diversifying interest among institutional players who are recognizing Ethereum's utility beyond just a store of value, particularly its role in decentralized finance (DeFi) and Web3 applications. The influx of capital from major firms like BlackRock is expected to further integrate digital assets into mainstream financial portfolios.