In a significant move for the Ethereum ecosystem, asset management giant BlackRock has reportedly purchased 3330 ETH via Coinbase, signaling deepening institutional involvement in the second-largest cryptocurrency.
According to recent reports, BlackRock acquired approximately $8.65 million worth of Ethereum on Coinbase. The purchase was also highlighted by crypto influencer Ash Crypto, lending further visibility to the transaction within the investor community.
Following the news, Ethereum (ETH) experienced a modest uptick, gaining 1.79% intraday. ETH is currently consolidating around $2,593, showing signs of bullish momentum amid increasing institutional activity.
Building on this momentum, BlackRock’s move is not an isolated case but part of a larger wave of institutional Ethereum accumulation. Notably, Abraxas Capital has recently expanded its ETH holdings significantly—accumulating over $655 million worth of the asset as of May 2025. The firm now ranks among the top Ethereum holders globally, drawing comparisons to Michael Saylor’s aggressive Bitcoin accumulation strategy. Such large-scale buying activity reinforces the view that institutions are increasingly viewing ETH as a long-term strategic asset.
Adding to the bullish outlook, Ethereum has witnessed net inflows of approximately $8.44 billion over the past three weeks alone. This surge in capital is part of a broader crypto market trend, which has seen over $35 billion in total inflows—reflecting renewed investor confidence and appetite for digital assets.
Further fueling the narrative, blockchain infrastructure firm BTCS has announced its intent to deepen its exposure to Ethereum. The company plans to raise $57.8 million through convertible notes for ETH acquisition, having already issued $7.8 million, with the remaining $50 million pending final agreements. This planned capital injection underlines the growing corporate conviction in Ethereum’s long-term potential.