BlackRock just spent over $300 million buying this crypto
The world’s largest investment firm, BlackRock, continues to flex its muscle in the cryptocurrency space through the steady accumulation of assets via spot exchange-traded funds (ETFs). To this end, data indicates that the company poured $314.9 million into its Ethereum spot ETF (ETHA) on August 25, marking one of the biggest single-day inflows since trading began. The move was part of a broader buying spree across multiple issuers. For instance, Fidelity attracted $87.4 million, Bitwise added $9.7 million, while Grayscale’s ETH fund recorded $53.3 million in net inflows despite a $29.2 million outflow from its ETHE product. Invesco and 21Shares also posted smaller gains of $2.2 million and $5.6 million, respectively. In total, Ethereum spot ETFs drew $443.9 million in fresh capital on Monday. The August 25 surge wasn’t an isolated event. Just days earlier, on August 22, BlackRock recorded another $109.4 million inflow, while Fidelity pulled in $117.9 mi...