news 
Ethereum ETFs Snap Up $1B in ETH as Price Edges Toward Record High
In a remarkable display of investor confidence, Ethereum ETFs have accumulated a staggering $1 billion worth of ETH, driving the price towards an all-time high. This monumental influx has sparked renewed optimism among market participants and analysts alike.
According to recent data, BlackRock led the charge with a massive $640 million purchase of ETH for its ETHA fund. Fidelity and Grayscale followed suit, adding a combined $356.9 million in new investments. The sheer scale of these purchases underscores the unwavering commitment of institutional investors to Ethereum’s long-term prospects.
This buying frenzy has pushed Ethereum ETFs to record-breaking levels, with daily inflows exceeding expectations. The collective impact is a dramatic upward trajectory for ETH, as it approaches its $4,800 all-time high.
Notable whale activity has also contributed significantly to the market’s momentum. Two anonymous entities acquired more than $200 million worth of ETH from OTC desks, further fueling buying pressure. SharpLink Gaming reinforced this sentiment by purchasing an additional 5,226 ETH for approximately $23.1 million, boosting its overall holdings to 604,026 ETH valued at around $2.69 billion.
The recent surge in corporate and institutional involvement has sent the Ethereum price hurtling towards record highs. The data suggests that SharpLink has secured a massive $900 million in capital to further fortify its Ethereum strategy, signaling an unwavering commitment to this cryptocurrency.
Source: blockonomi.com
