BlackRock's purchase of Ethereum (ETH) for $8.65 million created a lot of interest in the cryptocurrency industry.

BlackRock's purchase of Ethereum (ETH) for $8.65 million created a lot of interest in the cryptocurrency industry. By [your name]. Updated: May 20, 2025.

BlackRock’s purchase of Ethereum (ETH) for $8.65 million has generated significant interest within the cryptocurrency industry. The trading was facilitated by Coinbase Prime as they disclosed an execution of 3,337 ETH, expanding the company’s holdings in digital assets.

According to CoinMarketCap, Ethereum had a price point of $2,465.54 on Friday, May 19, 2025, showing a 4.12% decrease over the past 24 hours. This recent drop in the market has led many to predict that $ETH might soon reverse its trend from recent lows.

BlackRock Buys 2,097 ETH & 149 BTC In One Day — Smart Money Strikes Again

The recent activity of BlackRock (NYSE:BLK) in the cryptocurrency market has been a hot topic, especially with the institution's involvement in an Ethereum (CRYPTO: ETH) exchange-traded fund (ETF).

Now, the world's largest asset manager is expanding its digital asset portfolio even further. Data from Coinbase (NASDAQ:COIN) Prime shows that BlackRock completed another significant cryptocurrency trade on May 18, 2025.

During the trading day, an institution engaged in a large-scale purchase of 2,097 ETH, with the total value of the trade amounting to $5,306,321. At the same time, the institution sold 149.612 BTC for a total value of $15,285,348.

Considering the BTC price at the time was around $102,167, it can be estimated that the institution’s BTC position was liquidated at a profit.

At the beginning of May 2025, reports emerged that BlackRock had applied to launch an Ethereum ETF, in addition to its existing application for an ETF that would track the performance of the Coinbase (NASDAQ:COIN) Index.

Earlier in 2025, BlockFi creditors voted to approve the institution's $1.5 billion bid to acquire the bankrupt crypto lender.

Also Read: Institutional Interest In Crypto Remains Strong Despite SEC Crackdown, Ignitates New Merge Rumour

Earlier this year, several reports highlighted the growing role of institutions in the cryptocurrency market.

A recent report by the U.S. Securities and Exchange Commission (SEC) unveiled that institutional investors poured a record amount of funds into crypto products in the first quarter of 2025.

The SEC report also revealed that net inflows into crypto products reached $16.2 billion in Q1, a substantial increase from the $12.2 billion reported in the previous quarter.

Among the various crypto products, those focused on coins like Bitcoin (CRYPTO: BTC) and Ethereum witnessed the greatest interest from institutional investors.

According to the report, Bitcoin products attracted net inflows of $15 billion, while Ethereum products saw net inflows of $1.2 billion during the first quarter.

These figures attest to the sustained interest of institutional investors in cryptocurrencies, despite the SEC's crackdown on crypto firms.