BlackRock Deposits $115 Million in Ethereum, Fueling Speculation about Potential ETF Play

The world’s largest asset manager, BlackRock, has deposited a substantial sum of $114.97 million worth of Ethereum (ETH) into Coinbase, marking one of the largest transfers from a traditional financial institution to date. This move sparked speculation about BlackRock’s potential next steps in the crypto space, particularly regarding their ongoing interest in launching an Ethereum ETF. BlackRock has already filed for an Ethereum ETF and may be preparing for future fund seeding or quick execution upon regulatory approval. 34,777 ETH were transferred to Coinbase by BlackRock.