【x2 crypto】BlackRock Becomes Top Ethereum Whale With $3.5 Billion Stake

Today is x2 cryptoa big day in the world of institutional cryptocurrency investing. BlackRock, through its Ethereum-focused ETF, now owns a whopping $3.5 billion worth of ETH, or 993,591.95 ETH, which is 0.12% of the total supply of Ethereum (ETH). According to Arkham Intelligence, BlackRock is now the 12th largest holder of the asset in the world.

BlackRock's history with Ethereum (ETH) began this year when ETHA - the fund's spot ETF - was approved by the SEC and began trading. According to Larry Fink, BlackRock's current CEO, Ethereum has a pretty good chance of growing as a blockchain, and he believes it is not a currency but rather an asset.

This perspective is in line with Ethereum's reputation as a platform not only for decentralized applications and smart contracts but also for large independent blockchains such as Optimism or Arbitrum.

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

What do you think will happen in 2025? pic.twitter.com/1FRMSiZ6NS

— Arkham (@arkham) December 27, 2024