BlackRock, Grayscale, Fidelity Bought $500M ETH: What's Going On?
The cryptocurrency market seems to be working in phases. There was a time when the market and institutions were compulsively betting on Bitcoin, holding the token at a record pace. With time, a new narrative is taking shape in the cryptocurrency market, with Ethereum taking center stage as an emerging leading asset. Bitcoin and Ethereum both have been driving the course of the market as of late, with ETH driving maximum surge, inviting new institutional interest into the radar. What’s happening to Ethereum? What does this surge truly mean? Let’s find out. Also Read: Why $4,700 Ethereum (ETH) Remains a Strategic Entry Point Institutions Are Now Keenly Exploring Ethereum Source: Watcher Guru Leading financial giants like Fidelity, Grayscale, and BlackRock have all turned towards Ethereum in a new development. These companies have lately been bulking up on ETH, making hefty purchases of the token. Per a recent Arkham report, BlackRock has purchased $318M worth of ETH, while Fid...