BlackRock Acquires Ethereum Worth $314 Million Amidst Market Downturn

Despite a decline in the crypto market, BlackRock is showing confidence in Ethereum by purchasing a significant amount of the asset. Data from Arkham Intelligence Firm reveals that the investment giant purchased an estimated $314 million worth of ETH on August 26th. This action comes as no surprise given BlackRock’s history of accumulating Bitcoin and Ethereum within their iShares ETFs. However, the timing of this purchase has sparked discussion amongst crypto enthusiasts.