Asset management giant BlackRock recently acquired $276.16 million worth of Ethereum.
BlackRock's Major Purchase
According to Crypto Rover, on February 4, BlackRock purchased $276.16 million worth of Ethereum. This is a significant addition to their digital asset portfolio.
Purchase Background
These acquisitions are part of BlackRock's continued expansion of its Ethereum holdings. On January 31, the firm acquired 24,529 ETH worth $83.24 million, followed by another 17,261 ETH worth $56.65 million on February 1.
Market Reaction
ETH's price hasn't shown a significant reaction to this development. As of February 5, it is trading at approximately $2800, reflecting only a 1% change from the previous day.
BlackRock's actions highlight their confidence in Ethereum's potential as a blockchain asset, not just as a digital currency.
