BlackRock continues to expand its presence in blockchain assets, investing $276 million in Ethereum in February and underlining its strategic interest.
Recent Ethereum Purchases by BlackRock
BlackRock recently acquired Ethereum, continuing the investment pattern that began in late January and early February. On January 31, the firm purchased 24,529 ETH worth $83.24 million, followed by 17,261 ETH for $56.65 million on February 1. These acquisitions allowed BlackRock to purchase 41,790 ETH worth $128.3 million within two days.
BlackRock's Ongoing Interest in Ethereum
This latest purchase is not an isolated event. In December 2022, BlackRock and Fidelity allied to invest $500 million through Coinbase Prime in purchasing Ethereum. BlackRock views Ethereum as a valuable blockchain asset, as evidenced by their plans to establish an Ethereum ETF in the last quarter of 2023.
Ethereum Price Shows Modest Response
Numerous large-scale BlackRock investments in Ethereum did not result in substantial price changes. As of February 5, Ethereum remained relatively stable in market value at $2800 per token, showing a minor 1% uptick.
Overall, BlackRock continues to solidify its position in the blockchain asset market by selecting Ethereum as a key investment focus.
