CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
crypto.news 2025-02-05 12:50:27

BlackRock just acquired $276.16 million worth of Ethereum

BlackRock made a major move by purchasing $276.16 million worth of Ethereum on Feb.4. The asset management giant BlackRock acquired approximately $276.16 million worth of Ethereum ( ETH ) on Feb. 4, as reported by Crypto Rover on X . 💥BREAKING: BlackRock bought $276.16 MILLION worth of #Ethereum yesterday. THIS IS MASSIVE!😱 pic.twitter.com/jyQ7p9dqVX — Crypto Rover (@rovercrc) February 5, 2025 This acquisition is part of BlackRock’s continued expansion of its Ethereum holdings in recent weeks. On Jan. 31, the firm purchased 24,529 ETH worth $83.24 million, followed by another 17,261 ETH worth $56.65 million on Feb. 1, bringing its total two-day acquisition to 41,790 ETH worth $128.3 million. You might also like: Ethereum’s rebound looks strong, but can it hold? The 2025 outlook These purchases follow a massive $500 million Ethereum purchase made by BlackRock and Fidelity over the course of 48 hours on Dec. 12 through Coinbase Prime. PAST 48 HOURS: BLACKROCK AND FIDELITY BOUGHT OVER HALF A BILLION USD OF ETH pic.twitter.com/44N5mRAT5O — Arkham (@arkham) December 11, 2024 Read more: BlackRock and Fidelity bought half of billion dollars in Ethereum BlackRock’s involvement with Ethereum kicked off after it filed with the SEC for a spot Ethereum ETF in November last year, as reported by the Block. BlackRock CEO Larry Fink has expressed confidence in Ethereum’s potential, viewing it not as a currency but as a valuable blockchain asset. ETH’s price hasn’t shown a significant reaction to this development. As of Feb. 5, it is trading at approximately $2800, reflecting only a 1% change from the previous day. Read more: Ethereum’s gas woes get a fix as MetaMask launches ‘Gas Station’

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.