- BlackRock now holds over 3 million ETH, worth $11.4 billion, accounting for 2.5% of Ethereum’s circulating supply.
- Over 60% of BlackRock’s Ethereum holdings were acquired in July, marking its most aggressive accumulation phase.
- Ethereum’s price surge of 52% this July fueled institutional interest, pushing the asset’s value past the $3,500 benchmark.
BlackRock’s aggressive Ethereum acquisition has reached a new milestone, with its iShares Ethereum ETF accumulating an additional one million ETH since July 12. This recent haul brings the total Ethereum holdings under the ETF to over three million coins. Based on Ethereum’s current trading value of $3,800.94, the additional ETH is worth approximately $3.8 billion.
According to Nate Geraci, the ETF surpassed two million ETH earlier this month and added another million within just 18 days. July alone accounted for over 60% of the firm’s total Ethereum holdings, reflecting increased accumulation activity during this period. This sharp rise indicates July as the most active month for BlackRock’s ETH acquisition to date.
Ethereum Holding Valued at $11.4 Billion
With the value of Ethereum rising steadily throughout the month, BlackRock’s total ETH portfolio is now valued at more than $11.4 billion. The iShares Ethereum ETF now holds about 2.5% of Ethereum’s entire circulating supply. Currently, Ethereum’s circulating supply stands at approximately 121 million coins, according to recent data.
Ethereum’s market performance in July has played a significant role in fueling institutional demand. The price of ETH has surged by over 52% this month, pushing it beyond the $3,500 mark and toward its current price near $3,800.94. This price movement has drawn significant interest from retail and institutional investors alike.
Spot ETH ETFs Record Strong Institutional Inflows
Other spot Ethereum ETFs have also continued to experience inflows besides BlackRock, which indicates that more confidence in Ethereum-based investment products is being built within the industry. This institutional interest has been on the rise even with the volatility in the markets. Analysts are convinced that these trends of accumulation indicate the growing importance of Ethereum in terms of long-term investment strategies.
BlackRock has not paced its acquisition of Ethereum yet, even as the coin has gotten mixed market indications lately. The steady ETH buying by the firm indicates the continued concern by the institutions towards the asset. The activity at BlackRock is still contributing to the overall mood of the rest of the market with regard to Ethereum, as investors watch how long the company is willing to take the process of accumulation.
