BlackRock Invests Approximately $50 Million in Ethereum for ETF
BlackRock has invested approximately $50 million in ETH, part of its strategy to support a proposed Ethereum ETF pending regulatory approval.
- The investment originates from a wallet associated with BlackRock’s iShares Ethereum Trust.
- A transaction of 4999.9 ETH was sent to Coinbase Prime, valued at nearly $49.35 million.
- This follows BlackRock's earlier success with a Bitcoin ETF, indicating increased commitment to digital assets.
- The move may encourage other institutional investors to enter the crypto market.