tldr; BlackRock, the world’s largest asset manager, made a significant move in the cryptocurrency market by purchasing $1.1 billion worth of Ethereum (ETH) over two days. On July 17 and 18, BlackRock acquired a total of 307,461 ETH, boosting its holdings to 2.46 million ETH, valued at $8.9 billion. The purchases dominated the Ethereum ETF market, accounting for 98% of net inflows. This institutional demand has contributed to Ethereum’s price growth, with the cryptocurrency nearing long-term resistance at $4,000.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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tldr; BlackRock, the world’s largest asset manager, made a significant move in the cryptocurrency market by purchasing $1.1 billion worth of Ethereum (ETH) over two days. On July 17 and 18, BlackRock acquired a total of 307,461 ETH, boosting its holdings to 2.46 million ETH, valued at $8.9 billion. The purchases dominated the Ethereum ETF market, accounting for 98% of net inflows. This institutional demand has contributed to Ethereum’s price growth, with the cryptocurrency nearing long-term resistance at $4,000.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.