BlackRock ETF buys $1 billion in ETH as Ethereum eyes $5,000–$7,000 targets

Ethereum’s positive momentum continues as institutional demand and favorable market structure offer support for further gains, according to recent analyses. Despite a recent decline, market participants are closely monitoring several technical and institutional factors that could signal a broader uptrend for ETH.

Institutional interest and ETF accumulation

As of the latest data, Ethereum (ETH) trades at $2,436.17 with a 24-hour trading volume of $14.07 billion and a market capitalization of $294.02 billion. Although ETH has recorded a 2.31% loss within the past 24 hours, industry analysts assert that the structure remains favorable for future upward moves.

Crypto analyst Crypto Patel observed that ETH is approaching a long-term trendline resistance, with the $2,600 mark highlighted as critical for confirming bullish momentum. Patel noted that if Ethereum secures a sustained close above this level, it could trigger stronger bullish sentiment and set the stage for a broader rally.

Meanwhile, accumulating evidence of institutional involvement further supports the positive outlook for Ethereum. Arkham, a blockchain intelligence platform, reported that the BlackRock Ethereum ETF, known as ETHA, has purchased more than $1 billion worth of ETH over the past nine days, reaching a total of $1.02 billion. Throughout this period, there was no net selling activity by ETHA.