BlackRock and Fidelity bought half of billion dollars in Ethereum
The two biggest exchange-traded fund (ETF) issuers, BlackRock and Fidelity, bought over $500 million in Ether in the past two days.
According to Arkham Intelligence X’s post on Dec. 12, BlackRock and Fidelity acquired more than half of a billion dollars in Ethereum (ETH) in the past two days. This transaction was made through Coinbase Prime.
“PAST 48 HOURS: BLACKROCK AND FIDELITY BOUGHT OVER HALF A BILLION USD OF ETH,”
Arkham mentioned on post
It also shows that the two ETF issuers are taking more action in their portfolio by acquiring more Ether after receiving approval from the Securities and Exchange Commission (SEC) in May.
iShares Ethereum Trust ETF (ETHA) from BlackRock is the largest issuer, with a total inflow of up to $2.93 billion. Along with Fidelity, this crypto-product has received inflow up to 8 days in a row.
Fidelity Ethereum Fund (FETH) is the second-largest issuer, with a total inflow of up to $1.35 billion. The biggest inflow happens on Dec. 10 with $202 million.
BlackRock move on Ethereum
Recently, BlackRock has been planning to start Ether ETF spot trading options by filling in the commission. ETHA, as the only ETF listed on the Nasdaq exchange, asked the regulator to allow these trading options.
This decision will likely be announced by the SEC in April 2025, while other expert says they also need any other regulators’ approval to launch spot trading options, including the Commodity Futures Trading Commission (CFTC) and the Options Clearing Corporation (OCC).
