BlackRock Accumulates 214,000 ETH Worth $560M Through iShares Ethereum Trust
Blockchain analytics firm Lookonchain has revealed that BlackRock, via its iShares Ethereum Trust (ETHA), has purchased approximately 214,000 ETH—valued at around $560 million—since May 11.
The buying spree comes even as Ethereum’s price has traded in a tight range between $2,500 and $2,700.
According to the data visualized in Lookonchain’s chart, Ethereum ETF holdings have surged, while the asset’s price has remained relatively flat. The accumulation phase by BlackRock contrasts with market participants’ hesitation and reflects continued institutional confidence in Ethereum’s long-term value.
This behavior aligns with broader ETF flows observed in the post-approval environment, where steady inflows continue despite muted price movement—an indicator of strategic positioning rather than speculative chasing.
Institutional Demand Grows Despite Low Volatility
The move adds to BlackRock’s growing crypto footprint, coming shortly after its dominant presence in spot Bitcoin ETFs. While Ethereum hasn’t seen explosive gains during this phase, BlackRock’s activity suggests a long-term accumulation strategy rather than short-term trading.
Analysts see this as a bullish signal for Ethereum, with accumulation near the lower end of the range possibly setting the stage for a breakout once macroeconomic conditions improve or regulatory clarity advances further.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
