The post BlackRock Becomes Top Ethereum Whale With $3.5 Billion Stake appeared on BitcoinEthereumNews.com.

Today is a 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.  Related 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. Digging deeper into the on-chain data, it is clear that BlackRock currently holds 993,591.95 ETH, which is 0.12% of the total supply of the major alternative cryptocurrency. According to this parameter, BlackRock is currently the 12th largest Ethereum holder. 2025 vision This milestone is not just a one-off – it is part of a bigger story. More and more institutions have entered the cryptocurrency space this year, with Fidelity, BlackRock, WisdomTree and others launching their own 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. Related What is coming is pretty exciting, but it is also a bit risky. BlackRock has a major stake in ETH, so their moves could have an impact on the market. As we get closer to 2025, we are starting to ask questions about how valuable Ethereum is, whether it can scale, and how well it will be adopted. Source:…

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Filed under: News - @ December 27, 2024 6:27 pm