Rewards Hub BlackRock has purchased 17,440 ETH valued at $72.5 million for its spot Ethereum ETF, according to Coinomedia. The acquisition, completed on October 27, underscores increasing institutional interest in Ethereum, despite the absence of U.S. SEC approval for spot ETH ETFs. This strategic move by BlackRock highlights its confidence in Ethereum's potential as a long-term digital asset and indicates a broader trend of mainstream adoption in the cryptocurrency market.
BlackRock Acquires $72.5M in Ethereum for Spot ETF
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