Key Points
On February 4, the asset management titan, BlackRock, made a significant purchase of approximately $276.16 million worth of Ethereum (ETH).
This information was revealed by Crypto Rover on X.
BlackRock’s Ethereum Acquisitions
This acquisition is a continuation of BlackRock’s recent increase in its Ethereum holdings.
On January 31, the company bought 24,529 ETH worth $83.24 million.
This was followed by an additional purchase of 17,261 ETH worth $56.65 million on February 1.
In total, the firm acquired 41,790 ETH valued at $128.3 million over two days.
Previously, BlackRock and Fidelity made a substantial $500 million Ethereum purchase over 48 hours on December 12, utilizing Coinbase Prime.
BlackRock’s engagement with Ethereum began after it submitted a filing with the SEC for a spot Ethereum ETF in November of the previous year.
BlackRock CEO Larry Fink has displayed confidence in Ethereum’s potential, viewing it not as a currency but as a valuable blockchain asset.
The price of ETH has not shown a significant response to this news.
As of February 5, it is trading at approximately $2800, reflecting only a 1% change from the previous day.