Solana (sol) 
BlackRock Makes Major Ethereum Purchase
Asset management giant BlackRock has made a significant move by purchasing $276.16 million worth of Ethereum on February 4. This acquisition is part of the company’s continued expansion of its Ethereum holdings in recent weeks.
On January 31, BlackRock purchased 24,529 ETH worth $83.24 million, followed by another 17,261 ETH worth $56.65 million on February 1. This brings the total two-day acquisition to 41,790 ETH worth $128.3 million.
Recent Purchases
These purchases follow a massive $500 million Ethereum purchase made by BlackRock and Fidelity over the course of 48 hours on December 12 through Coinbase Prime.
BlackRock’s Involvement with Ethereum
BlackRock’s involvement with Ethereum kicked off after it filed with the SEC for a spot Ethereum ETF in November last year. BlackRock CEO Larry Fink has expressed confidence in Ethereum’s potential, viewing it not as a currency but as a valuable blockchain asset.
“Ethereum is not just a currency, but a valuable blockchain asset.”
Market Reaction
Ethereum’s price hasn’t shown a significant reaction to this development. As of February 5, it is trading at approximately $2800, reflecting only a 1% change from the previous day.
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