BlackRock Invests $34.7M in Ethereum via Spot ETF, Signaling Shifting Crypto Strategy

BlackRock Inc., one of the world’s largest asset managers, recently made a significant investment in Ethereum (ETH) through its spot exchange-traded fund (ETF). This purchase, valued at $34.7 million and involving 13,310 ETH, marks a strategic reallocation of resources away from Bitcoin, reflecting a growing interest in the Ethereum blockchain. BlackRock’s move aligns with broader trends in the crypto market following the SEC approval of spot ETH ETFs.