BlackRock and Fidelity ETFs purchase $500 million worth of ETH in the past two days: Arkham

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The Block2024/12/11 23:23

By:MK Manoylov

Both firms largely purchased ether through the crypto exchange Coinbase or its institution-focused crypto services platform Prime.

BlackRock and Fidelity ETFs purchase $500 million worth of ETH in the past two days: Arkham image 0

Exchange-traded funds under financial giants BlackRock and Fidelity purchased $500 million worth of ether in the past two days, according to the crypto data tracking platform Arkham .

Both firms largely made the purchases through the crypto exchange Coinbase or its institution-focused crypto services platform Prime, Arkham data shows.

BlackRock's ETHA and Fidelity's FETH are among the top spot Ethereum ETFs, leading the all-time high inflows seen on Nov. 30. ETHA and FETH brought in $372.4 million and $103.7 million, respectively, in trading volume on Dec. 10, according to The Block's Data Dashboard.

The U.S. Securities and Exchange Commission approved eight spot Ethereum ETFs, including those from BlackRock and Fidelity, on May 23.

Ethereum traded at $3,830 as of 5:31 p.m. ET (22:31 UTC) on Dec. 11. The token's price increased 5.1% and brought in $39.3 billion in trading volume in the past 24 hours, The Block's ETH Price Page shows.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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