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1. BlackRock Reignites ETH Accumulation Strategy
BlackRock, the world’s largest asset manager, has resumed its Ethereum (ETH) purchases, drawing fresh attention from the crypto market. According to blockchain analytics firm Arkham Intel, BlackRock withdrew approximately $11.2 million worth of ETH from Coinbase Prime on June 24.
This move stands in stark contrast to the firm’s prior action just one day earlier, when it moved 9,928 ETH from its ETF wallet back to Coinbase Prime — an action interpreted as profit-taking or portfolio rebalancing. The quick reaccumulation suggests a strategic shift and ongoing long-term confidence in Ethereum.
2. Transfers Linked to Ethereum ETF Wallet
The ETH transactions were executed in two tranches
First transfer: 4,224 ETH (~$10.28 million)
Second transfer: 6,961 ETH (~$16.92 million)
Both transactions were sent from Coinbase Prime’s hot wallet to a wallet linked to BlackRock’s Ethereum ETF (ETHA), signaling that the purchases are part of a structured ETF strategy rather than standard market activity.
3. Institutional Interest Returns Amid Geopolitical Uncertainty
BlackRock’s ETH accumulation comes at a time of heightened geopolitical tension in the Middle East, which appears to be sparking a broader return of institutional interest in digital assets. Traditional finance players expanding crypto exposure during periods of macro uncertainty may indicate renewed trust in digital asset resilience.
4. Ethereum Price Action and Market Implications
Ethereum is currently trading at $2,444, up over 6% in 24 hours, though still down around 2% on a weekly basis. This suggests ongoing short-term volatility, but also reflects sustained long-term demand.
BlackRock’s ETF-related activity underscores growing institutional appetite for Ethereum, which could serve as a catalyst for future price recovery and bullish momentum.