BlackRock and Fidelity bought $500 million worth of Ethereum for ETFs in two days

BlackRock's iShares Ethereum Trust (ETHA) and Fidelity Ethereum Fund (FETH) purchased $500 million worth of Ethereum on December 10-11.This data was provided by Arkham

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BlackRock and Fidelity have added coins through Coinbase and its Prime platform.Since its launch, ETHA has raised $2.99 billion, including $74.16 million on December 11, and FETH raised $1.35 billion ($0).

In total, the sector received $1.97 billion.The total was impacted by the $3 billion outflow of ETHE from Grayscale.Total AUM reached $13.18 billion.

The positive sales momentum continued for the 13th day in a row.

At the time of writing, Ethereum is trading at $3,930. In the last 24 hours, growth was 6.7%.

Recall that experts saw signals that Ethereum could reach new highs in the near future.One of the arguments was inflows into ETFs.

In early December, CoinDesk analyst Omkar Godbole drew attention to the formation of a bullish pattern on the asset chart, which preceded the November rally in Bitcoin. On December 6, the price of the second-largest cryptocurrency by capitalization exceeded the $ 4,000 mark for the first time since March.

Previously, an analyst under the moniker VentureFounder spotted a “cup-and-handle” pattern in Ethereum that signals growth to $7,200 in four months.