BlackRock-Fidelity bought half billion dollars in Ethereum

BlackRock and Fidelity, the two largest exchange-traded fund (ETF) issuers, purchased over $500 million of Ether in the last two days.

BlackRock and Fidelity purchased more than half a billion dollars of Ethereum (ETH) in the last two days, according to Arkham Intelligence This transaction was made through Coinbase Prime.

“IN THE LAST 48 HOURS: BLACKROCK AND FIDELITY PURCHASED MORE THAN HALF A BILLION DOLLARS OF ETH”

Arkham was mentioned in the post

It also shows that the two ETF issuers are taking more action in their portfolios by buying more Ether after receiving approval from the Securities and Exchange Commission (SEC) in May.

BlackRock’s iShares Ethereum Trust ETF (ETHA) is the largest issuer with total inflows of up to $2.93 billion. With Fidelity, this crypto product has been accessed for up to 8 consecutive days.

Fidelity Ethereum Fund (FETH) is the second largest issuer with total inflows of up to $1.35 billion. The biggest inflow occurred on December 10 with $202 million.

BlackRock is switching to Ethereum

Recently, BlackRock plans to launch Ether ETF spot trading options by charging commission. ETHA, the only ETF listed on the Nasdaq exchange, has asked the regulator to allow these trading options.

This decision will most likely be announced by the SEC in April 2025. Other experts say they need approval from other regulators, including the Commodity Futures Trading Commission (CFTC) and the Options Clearing Corporation (OCC), to launch spot trading options.