BlackRock's Ethereum ETF Buys $1 Billion in ETH Over Nine Straight Days

BlackRock’s Ethereum exchange-traded fund bought $1 billion worth of Ether across nine consecutive days, according to a report originally published by Startup Fortune. The reported buying streak highlights sustained ETF-related demand for ETH, the native cryptocurrency of the Ethereum network.

BlackRock is one of the world’s largest asset managers, and its crypto ETF activity is closely watched by digital-asset markets. Exchange-traded funds are investment vehicles that trade on stock exchanges and can offer investors regulated market access to underlying assets or related exposure without requiring them to directly manage cryptocurrency wallets.

Ethereum is a major blockchain platform used for decentralized applications, token issuance and smart contracts. Ether is also widely used to pay network transaction fees. Continued purchases by a large ETF can be significant because such funds may need to acquire assets to support shares issued to investors, linking market demand for ETF shares with activity in the underlying crypto market.