BlackRock, the world’s largest asset manager with over $10 trillion in managed assets, has made headlines again this time with a major move towards Ethereum (ETH). The company purchased 10,955 ETH, worth around $20 million.
The purchase follows a past $54 million ETH investment from BlackRock, indicating clear and growing interest in Ethereum-based ETFs. At the same time, BlackRock has poured $674.9 million into Bitcoin ETFs, demonstrating continued trust in key digital assets.
Breaking🚨BlackRock bought $20 million worth of $ETH pic.twitter.com/blqf6ginsc
– That Martiniguy₿ (@martiniguyyt) May 3, 2025
Despite major BlackRock investments, ETH prices have settled
Despite BlackRock’s aggressive purchase fuss, prices on Ethereum have been relatively stagnant. ETH is currently hovering around the $1,860 mark with little or no immediate response to the news. This lack of move has shocked some market watchers, especially considering the size of their investment.
Analysts suggest that the market may still be absorbing the news or waiting for a clearer technical signal before committing to a critical directional move.
Ethereum recently tried to climb above $1,872, but was pushed back. The price then fell to around $1,813, which is considered a short-term support level. So far, this support has been preserved. In other words, the market may still try to move higher.
Related: The Road to Ethereum’s Recovery: Will New Market Trends Cause Bullet Turns?
Technical Outlook: Can ETH retain support for pushing to $1900?
So far, the $1,813 area has served as short-term support. If Ethereum can maintain trading above this level, some technical analysts see a higher chance of moving towards its $1,925 resistance goal.
However, if pressure and ETH purchases fall below $1,813 support, the focus could shift to around $1,732 to the April 30 low. Below that, it may show a deeper pullback, but it does not necessarily mean that the upward trend has ended.
Source: CoinMarketCap
Related: Ethereum’s second quarter recovery: What historical trends say about its potential in 2025
For now, Ethereum remains in a state of technical indecisiveness. Still, the scale of BlackRock’s recent movement suggests that institutional interest in Ethereum is growing, not only intact.
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