BlackRock amasses $1.5B in Ethereum via ETFs in 20 days

BlackRock ↗ 1.50% has accumulated roughly $1.5 billion worth of Ethereum ↗ 0.09% through its spot ETF products over a 20-day stretch ending this week, according to blockchain analytics firm Arkham Intelligence. The buying spree underscores the asset manager's deepening commitment to crypto even as the Federal Reserve delivered its first interest rate hike in more than three years.

The Accumulation

The bulk of the purchases flowed through BlackRock's iShares Ethereum Trust ETF (ETHA) ↗ 7.85%, which acquired approximately $1.27 billion in ETH over the period, with its newer staking-enabled iShares Staked Ethereum Trust ETF (ETHB) ↗ 7.84% adding another $296.5 million. ETHB recorded zero days of net outflows during the entire window, a sign of persistent demand for the yield-bearing fund. Separately, data compiled by Finbold from SoSoValue showed BlackRock's combined net purchases across its Bitcoin ↗ 0.05% and Ethereum ETFs at $843.78 million over the same 20 days, with its iShares Bitcoin Trust (IBIT) ↗ 6.28% accounting for $434.11 million in net Bitcoin inflows.phemex+2

The discrepancy between the two tallies reflects different data providers and methodologies, but both point in the same direction: sustained institutional buying across BlackRock's crypto lineup. ETHA held about $8.96 billion in net assets as of September 11, while ETHB had grown to roughly $1.05 billion.cryptorank

A Rate Hike Meets Institutional Appetite

The accumulation unfolded against a turbulent macro backdrop. On Wednesday, the Federal Open Market Committee voted unanimously to raise its benchmark rate by 25 basis points to a range of 3.75% to 4%, the first increase since 2023. Fed Chair Kevin Warsh said inflation "has persisted for an extended period" and signaled the possibility of another hike this year. Stocks fell and the 10-year Treasury yield closed above 5% for the first time in 19 years.federalreserve+2

Broader ETF Momentum

BlackRock's buying fits into a wider recovery for Ethereum ETFs. U.S. spot Ethereum funds drew roughly $1.75 billion to $1.85 billion in net inflows during August, their best month since August 2025, and extended the streak into a fourth consecutive positive week in September. BlackRock's ETHA alone accounted for about 72% of the mid-August inflow surge. The renewed demand followed a punishing stretch earlier in the year that saw more than $1 billion in combined outflows across May and June.memeburn

The concentration of flows in a single issuer raises questions about durability. As Memeburn noted, "when one issuer with a large advisor network accounts for most of the demand, a handful of model portfolio allocations can shape a whole month, which makes the trend more fragile than the headline number suggests".memeburn