Ethereum is witnessing a historic wave of institutional purchases driven by significant interest from large investors.
Wave of Institutional Purchases
Ethereum (ETH) is experiencing one of its largest waves of institutional purchases in history, with $1 billion flooding in within a single day. According to the latest report by the Arkham platform, major buyers include BlackRock with $640 million, Fidelity with $270 million, and Grayscale with $80 million.
Interest in Ethereum ETFs
On August 12, nine Ethereum ETFs saw net inflows of 231,717 ETH, valued at $1.03 billion. BlackRock’s iShares Ethereum Trust accounted for 149,168 ETH, worth $663.05 million, bringing its assets to over 3.19 million ETH valued at $14.22 billion.
New Records for Ethereum ETFs
Spot Ethereum ETFs have reached new records this year. In July, they recorded $5.4 billion in net inflows, making it the highest amount ever recorded. However, minor outflows in August were followed by a recent bounce-back, indicating sustained institutional interest.
Institutional investments in Ethereum ETFs continue to rise, highlighting growing interest and potential mainstream acceptance of Ethereum. Major players like BlackRock and Fidelity lead this wave, possibly opening new horizons for the cryptocurrency.
