BlackRock Buys $50M in Ethereum Amid Rising Exchange Inflows

BlackRock, the world’s largest asset manager, has reportedly purchased over $50 million worth of Ethereum (ETH), according to on-chain intelligence firm Arkham. The firm posted on X (formerly Twitter) that data from Coinbase Prime shows multiple transactions, including purchases ranging from 9,000 to over 58,000 ETH—valued between $23 million and $61 million. This significant acquisition hints at BlackRock’s growing interest in crypto assets and could signal a broader institutional move into Ethereum.

Charts shared by Arkham show a steady rise in Ethereum wallet balances linked to the investment giant, suggesting a strategic build-up of ETH holdings. Some analysts speculate that BlackRock may be positioning itself ahead of potential regulatory developments or new crypto-based financial products.

Meanwhile, Ethereum inflows to exchanges have spiked. CryptoQuant data reveals that from May 27 to June 1, ETH transferred to exchanges rose sharply—from around 200,000 ETH to over 1.3 million ETH—before declining again. This surge may indicate that whales or large investors are preparing to sell or rebalance portfolios in response to market shifts.

Despite the increased exchange activity, Ethereum’s price remained relatively stable between $2,540 and $2,680. The ability of the market to absorb high-volume transfers without sharp price drops highlights ongoing demand. As of now, ETH trades at $2,605.38, reflecting a 2.37% daily increase. The 24-hour trading volume surged by 16.03% to $18.15 billion, showing renewed investor interest.

BlackRock’s Ethereum bet, combined with shifting on-chain activity, underscores how traditional finance continues to explore the crypto space, especially Ethereum, as a foundational layer for decentralized applications and future Web3 innovations.