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’