BlackRock Becomes Top Ethereum Whale With $3.5 Billion Stake

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As a seasoned crypto investor with a decade of experience under my belt, I find myself both enthused and apprehensive about BlackRock’s latest move into Ethereum (ETH). The $3.5 billion investment by this financial titan underscores the growing institutional interest in digital assets, a trend that has been gaining momentum over the past few years.

Today marks a significant milestone in the realm of institutional cryptocurrency ownership as BlackRock, via its Ethereum-centric ETF, now controls approximately $3.5 billion in Ethereum (ETH), equivalent to about 993,591.95 ETH. This accounts for 0.12% of the total Ethereum supply worldwide. As per data from Arkham Intelligence, BlackRock has climbed up the ranks to become the 12th largest Ethereum holder globally.

2021 marked the commencement of BlackRock’s journey with Ethereum (ETH), as ETHA – the fund’s exchange-traded product focusing on spot ETF – was endorsed by the SEC and started trading. As per Larry Fink, CEO of BlackRock, Ethereum holds a strong potential for growth within the blockchain landscape. Unlike a currency, Mr. Fink considers Ethereum more as an asset.

This view aligns with Ethereum being known not just as a host for decentralized apps and smart contracts, but also as a foundation for substantial standalone blockchains like Optimism and Arbitrum.

As of today, BlackRock’s ETF has bought $3.5 BILLION of ETH

What do you think will happen in 2025?

— Arkham (@arkham) December 27, 2024

By closely examining Ethereum‘s blockchain records, it’s evident that BlackRock owns approximately 993,591.95 ETH. This represents 0.12% of the entire supply of this prominent altcoin. Based on this measurement, BlackRock is currently ranked as the 12th largest Ethereum holder.

2025 vision

This significant event isn’t merely an isolated incident; it’s a chapter in a larger narrative. In fact, an increasing number of financial institutions have ventured into the cryptocurrency sector this year, including Fidelity, BlackRock, WisdomTree, and several others, by launching their own Exchange-Traded Funds (ETFs).

They are no longer just looking at it as a speculative play or something for a small group of cryptographers but as a full-fledged asset class.

Upcoming events show great promise but carry some degree of uncertainty. Given that BlackRock holds a significant portion of ETH, their actions could significantly influence the market. As we edge towards 2025, questions about Ethereum’s worth, scalability, and adoption rate start to surface.

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2024-12-27 18:49