BlackRock Acquires $69M in ETH: What It Means for Ethereum Price
In a move that’s stirring debate across the crypto space, BlackRock has executed a major portfolio rebalance, selling over 1,200 BTC and acquiring more than 27,241 ETH in the past 24 hours. The transaction, spotted on-chain by Lookonchain, shows the asset management giant shifting its crypto exposure toward Ethereum, possibly reflecting a broader institutional tilt toward ETH ahead of regulatory milestones.
BlackRock’s Ethereum Accumulation: What Happened
According to data from Arkham Intelligence and a tweet from Lookonchain, BlackRock transferred 1,249 BTC (≈ $131M) from its IBIT ETF holdings to Coinbase Prime, while simultaneously receiving 27,241 ETH (≈ $72M) into wallets linked to its Ethereum investment strategy.
This marks a strategic rebalancing by the world’s largest asset manager, suggesting increased confidence in Ethereum’s medium-term performance—especially following the SEC’s greenlighting of spot ETH ETFs last month.
Ethereum Price Analysis – Is a Breakout Coming?
At the time of writing, Ethereum (ETH) trades at $2,650, gaining +2.1% in the last 24 hours.
Recent consolidation above the $2,400 level indicates strong support, with ETH forming higher lows throughout May. If bullish momentum continues, a breakout above $2,800 could open the door to $3,100—key resistance from March.
Source: Tradingview
The ETH/BTC ratio has also begun to stabilize, another sign of capital rotating toward altcoins. With BlackRock entering aggressively, institutional confidence could now become a new bullish catalyst.
Institutional Sentiment Shifts Toward ETH
BlackRock’s shift mirrors broader sentiment among institutions favoring Ethereum due to its:
- Diversified yield opportunities (staking, liquid restaking, LSTs),
- Role in tokenized real-world assets (RWA),
- And its centrality to infrastructure like L2s, DeFi, and Web3 authentication.
Ethereum’s growing integration in regulated products and evolving roadmap (EIP-4844, L2 scaling, MEV improvements) reinforces the perception of ETH as a long-term blue-chip crypto investment—on par with Bitcoin in narrative strength.
Final Thoughts: Is Ethereum About to Outperform Bitcoin?
BlackRock’s $72 million ETH buy signals a clear institutional pivot, and Ethereum’s technical structure backs it up. With price structure improving and key ecosystem developments underway, Ethereum could be on track to retest $3,500–$4,000 by Q3—especially if ETF demand surges post-launch.If Bitcoin’s dominance continues to flatten, Ethereum might finally step into the leadership role for the next phase of the bull cycle.
