BlackRock has emerged as a dominant institutional player in the Ethereum market, holding over $11.4 billion worth of the cryptocurrency. This substantial position represents approximately 2.5% of Ethereum’s current circulating supply, underscoring the firm’s significant influence.
The world’s largest asset manager dramatically increased its exposure to Ethereum this month. Its iShares Ethereum ETF accumulated an additional 1 million ETH in just 18 days, representing an increase of approximately $3.8 billion.
This aggressive accumulation highlights rapidly growing institutional appetite for Ethereum. Multiple spot Ethereum exchange-traded funds have recorded significant inflows throughout the month, mirroring this trend. BlackRock’s ETH holdings grew by approximately 50% during July, reflecting the magnitude of this institutional push.
The surge in institutional demand coincided with a robust price rally for Ether. The asset surpassed $3,500 during the month and demonstrated strong upward momentum. As of the latest data, Ethereum trades near $3,800, concluding July with a substantial 52% price surge.