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No TRUMP Coin Buys, Despite Congressman’s Claims

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According to TikTok’s Policy account on X, claims that its Chinese owners are snapping up $300 million worth of the Official Trump (TRUMP) memecoin are flat-out wrong.

The post called the idea “patently false and irresponsible.” It even pointed out that the claim didn’t match a letter Rep. Brad Sherman signed last month.

Exec Order Delay Raises Eyebrows

US President Donald Trump signed his third executive order this spring, pushing back a ban or forced sale of TikTok by another 90 days. That move gave TikTok roughly three more months to find a buyer or face an outright ban in the US.

Many people wondered if TikTok’s political sway was part of the hold‑up. Some viewed Sherman’s timing as no accident—he spoke out just after the third delay was announced.

Congressman, claiming that the owners of TikTok are buying “Trump Coins” is patently false and irresponsible and doesn’t even accurately reflect a letter you signed last month. https://t.co/8uxxPrKlzP

— TikTok Policy (@TikTokPolicy) June 19, 2025

US Rep. Brad Sherman. Source: Allison Robbert/The Hill

GD Culture Group Connection Sparks Doubts

Based on reports of an SEC filing, GD Culture Group—a tiny, Nasdaq‑listed firm with no known ties to ByteDance—said it would buy as much as $300 million in Trump memecoin and Bitcoin.

GD Culture creates AI‑driven videos for TikTok, but it isn’t owned by ByteDance and has no board members in common. That mix‑and‑match link set off a wave of confusion, leading some to assume TikTok itself was funding the memecoin purchase.

Sherman’s Crypto Critique

According to Sherman, “Trump creates ‘Trump Coins’ at no cost, meaning this is just a $300 million bribe that goes right into his pocket.”

Sherman has long argued for a blanket ban on crypto.

Back in 2019, he warned that cryptocurrencies could displace the US dollar. His latest comments mix his worry about TikTok’s Chinese ownership with his deep distrust of the crypto world.

TRUMP is currently trading at $9.31. Chart: TradingView

Online Reaction Divides Audience

Some online users doubted TikTok’s denial, wondering if China’s influence was deeper than we know. Others piled on Sherman, criticizing his anti‑crypto stance and even his call to ban TikTok.

“No one wants TikTok banned, except the Israeli lobby, aka your puppet masters,” one commentator wrote, adding fuel to the fire.

Politics, Crypto And Social Media Entangle

In less than a week, a single SEC form and a congressional tweet turned into a full‑blown spectacle:

On one side, we have a social platform fighting to stay in the US market.

On the other, a lawmaker warning about foreign influence and digital money.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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BlackRock buys $1.4B Bitcoin over six-day streak amid ETF boom
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BlackRock buys $1.4B Bitcoin over six-day streak amid ETF boom

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ETF issuer and asset management firm BlackRock is expanding its Bitcoin portfolio with billions of dollars in fresh investments.

According to Arkham Intelligence data, on June 17, BlackRock purchased $250 million worth of Bitcoin (BTC). The acquisition is part of a broader accumulation streak that has now spanned six consecutive days, bringing the firm’s total Bitcoin investment during this period to $1.4 billion.

BLACKROCK BUY STREAK: $1.4 BILLION OF BTC FOR 6 DAYS STRAIGHT

BlackRock bought over $250M of BTC today, bringing their streak up to $1.4 Billion.

BlackRock has now bought BTC for 6 days in a row. pic.twitter.com/VjbtlcSGk9

— Arkham (@arkham) June 17, 2025

The buying spree comes alongside a wave of inflows into BlackRock’s iShares Bitcoin Trust (IBIT), which has consistently led all spot Bitcoin ETFs in net inflows over the past week. On the same day as its latest BTC purchase, IBIT recorded approximately $639.2 million in net inflows, even as other major issuers like Fidelity, ARK, and Bitwise posted significant outflows.

The strong influx of funds and steady buying also follow a major milestone for IBIT, which recently became the fastest exchange-traded fund in history to surpass $70 billion in assets under management (AUM). The fund reached that mark in just 341 days, crushing the previous record of 1,691 days set by the SPDR Gold Shares ETF.

At press time, Bitcoin is trading at $104,589, down roughly 5% over the past week as mounting geopolitical tensions weigh on broader market sentiment. BlackRock’s accumulation streak suggests that institutional demand remains strong and that the firm may be capitalizing on the recent price dip to increase its holdings. 

With the latest purchases, IBIT now manages approximately $74.8 billion in assets and holds 670,295 Bitcoin in its portfolio.

Beyond BlackRock, several traditional financial heavyweights are also doubling down on Bitcoin. Strategy, the largest corporate holder of BTC, recently made a $1.05 billion purchase, reinforcing its long-term bullish stance.  

Other major players, including Japan-based MetaPlanet and Europe’s The Blockchain Group, have also continued to grow their Bitcoin holdings, signaling widening institutional adoption across global markets.





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Ethereum whale buys $127m in ETH during dip, sparking bullish sentiment
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Ethereum whale buys $127m in ETH during dip, sparking bullish sentiment

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Whale buys $127m in ETH during dip, boosting confidence as options expiry and global tensions shake markets.

Ethereum (ETH) is hovering around $2,547 and sparking major interest after a whale scooped up 48,825 ETH for $127 million, at an average of $2,605. This large purchase came during a short dip in price, largely due to global tensions and option expiries, signaling solid long-term confidence.

The same investor had already profited $30 million from previous ETH trades, confirming this wasn’t a gamble. Middle East concerns and the expiry of over 242,000 ETH options on Deribit led to market jitters, but the whale’s buy-in helped stabilize sentiment. With a current put-call ratio at 1.20 and a max pain point at $2,700, many believe a strategic move is underway.

Ethereum Technical outlook: $2,800 or $2,400? 

Ethereum is now trading in a tight band between $2,518 (23.6% Fibonacci retracement) and the 50 EMA at $2,580. Here’s what to watch:

Bullish scenario: 

  • Entry: Close above 38.2% Fib ($2,568) and 50 EMA
  • Stop-loss: Below $2,500
  • Targets: $2,607 (50% Fib), then $2,647 (61.8% Fib)

Bearish Scenario: 

  • Entry: Drop below $2,518
  • Stop-loss: Above $2,540
  • Targets: $2,440, potentially $2,300

Blockchain bridges: How real utility is built 

Bridges in blockchain allow assets and data to move between different networks. The standard approach locks tokens on one chain and mints an equivalent on another like moving funds from Ethereum to BTC.

Key features:

  • Smooth movement of assets across chains.
  • Choice between centralized and decentralized types.
  • Easier use across various ecosystems.

This is exactly where Pepeto adds serious value. As Ethereum pushes for higher levels, Pepeto uses bridge technology to create a cross-chain, swap-enabled exchange. This makes transfers between Ethereum, BNB, and Solana simple and cheap, solving a long-standing challenge in DeFi.

Pepeto launches with exchange preview + 278% APY staking rewards 

Pepeto isn’t just riding memecoin hype. It’s offering early buyers exclusive access to its soon-to-launch exchange. Built to host all memecoins, the platform charges no listing fees and integrates powerful bridge tech.

The token also provides up to 278% APY in staking:

  • Pepeto’s exchange demo version drops in just a few days.
  • Meme tokens listed with no fees on pepeto.io.
  • Cross-chain bridge across ETH, BNB, and Solana.
  • Up to 278% APY for stakers.
  • Demand driven by real usage, not just market buzz.
  • Over $5.3m already raised in presale.

With momentum building and the hard cap nearing, Pepeto stands out. Its combination of Ethereum-based innovation, staking rewards, and meme coin appeal positions it as a top contender before prices move up.

To join the presale, visit the official Pepeto website.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.



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Metaplanet To Raise $5.4B To Hold 210,000 Bitcoin By 2027
Crypto Trends

Metaplanet Buys $117M in Bitcoin, Issues $210M in Bonds

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Metaplanet, Asia’s largest corporate holder of Bitcoin, on Monday said it has purchased an additional 1,112 BTC, increasing its total Bitcoin holdings to 10,000 BTC. Also, the firm announces issuing $210 million in ordinary bonds to buy more Bitcoin.

Metaplanet’s Total Holding Reaches 10,000 BTC

In an official announcement on June 16, Japan-based Metaplanet disclosed an additional 1,112 BTC acquisition worth $117.2 million. With the latest purchase, the firm has reached its 2025 goal to acquire 10,000 BTC.

Simon Gerovich, CEO of Metaplanet, said the acquisition was made at an average price of $105,435, achieving a BTC Yield of 266.1% YTD 2025. “As of 6/16/2025, we hold 10,000 BTC acquired for ~$947 million at ~$94,697 per bitcoin.”

Metaplanet continues to purchase Bitcoin actively as part of ongoing Bitcoin Treasury operations. The last purchase of 1,088 BTC for $117.3 million was made on June 2.

Metaplanet Announces Issuing $210 Million in Bonds

The company also announced approval by its board of directors to issue the 18th series of 0% ordinary bonds to EVO FUND. The bonds are scheduled to mature on December 12 this year, which will be used to purchase more Bitcoin.

“The issuance of these bonds is expected to have a minimal impact on the Company’s
consolidated financial results for the fiscal year ending December 2025. If any material impact
on our financial performance or other matters arises, we will provide an update promptly,” as per the statement.

Earlier, Metaplanet announced its aim to hold 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027 as part of its Accelerated 2025-2027 Bitcoin Plan. The firm planned Asia’s largest-ever equity raise dedicated to Bitcoin, expecting a $5.4 billion fund raise by issuing 555 million shares via moving strike warrants.

Metaplanet Inc. (3350.T) stock price jumped over 20% to 1,815 yen on Monday. As per Yahoo Finance, the stock price has rallied over 191% in a month and nearly 421% YTD.



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SharpLink (SBET) Buys $463M in ETH, Stock Down 66%

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SharpLink Gaming (SBET), the public firm pivoting to a crypto treasury strategy focused on Ethereum, revealed on Friday it acquired 176,271 ether

for nearly $463 million.

The purchase makes the firm the largest ETH holder among publicly traded companies, SharpLink said in a press release.

The company tapped its $1 billion at-the-market (ATM) common stock share facility for $79 million to help fund the ETH acquisition.

The ETH purchase announcement came on the heels of a Thursday regulatory filing that potentially enabled investors in the firm’s private placement round to sell shares, sending stock prices down 70% after market hours. Some speculated that the firm might have leaned more heavily into the ATM to announce a bigger larger crypto purchase. Shares remain lower by 66% in Friday action.

SharpLink in one of the growing roster of public companies that recently pivoted to add cryptocurrencies to their balance sheets. It raised $450 million earlier this month through a private round from a wide range of investors, including ConsenSys, Galaxy, and Pantera Capital, to buy ETH. Ethereum co-founder and ConsenSys CEO Joseph Lubin also joined the firm as board chairman.

Shares exploded 4,300% higher in a bit more than a week following the firm’s crypto strategy in May, but have given back more than 90% of the rally this month.
After the massive price swings and today’s decline, shares still trade around 500% higher than before the treasury pivot.

Read more: Ethereum Treasury Firm SharpLink Gaming Plunges 70% – But There May Be a Twist



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SharpLink Gaming Buys $463 Million in Ethereum, Becomes Largest ETH Treasury Firm

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In brief

  • SharpLink Gaming unveiled a $462 million Ethereum acquisition, saying that 95% of the funds had already been deployed in decentralized finance, or DeFi, protocols.
  • The company’s stock dropped over 70% on Thursday during after-hours trading as the public tried to assess the significance of an S-3 shelf prospectus.
  • The Ethereum Foundation held $540 million worth of Ethereum on Friday, Akrham Intelligence data showed.

SharpLink Gaming recently acquired $462 million worth of Ethereum, becoming the asset’s largest holder among public firms, according to a company blog post published on Friday. 

The Nasdaq-listed online gambling marketer, which adopted an Ethereum treasury strategy in May, said that it had purchased roughly 176,000 ETH for an average price of $2,600 per coin. The price of Ethereum was recently changing hands around $2,500, an 8.8% decrease over the past 24 hours, according to crypto data provider CoinGecko.

The company’s announcement follows a Securities and Exchange Commission filing that sparked confusion on Crypto Twitter. As the public tried to parse the significance of an S-3 shelf prospectus, shares tumbled more than 70% in after-hours trading on Thursday. 



Although observers speculated that the filing indicated SharpLink investors had sold shares, Ethereum co-founder, Consensys CEO, and SharpLink board chair Joe Lubin said the filing was “standard.” (Disclosure: Consensys is one of 22 investors in an editorially independent Decrypt.)

SharpLink shares opened at $10.26 on Friday, a 67% dip compared to the stock’s closing price of $32.53 a day before, according to Yahoo Finance. Shares soared as high as $124.12 in late May after the company announced a $450 million private placement. They were recently changing hands around $11.21.

“There’s a period of time between [the] announcement to when everything is ready to go, where the float is tiny and everyone buys it, and it basically turns into a meme stonk,” Taproot Wizards co-founder Udi Wertheimer, said on X, formerly Twitter. “That’s resolved once all the filings [are] done. […] It doesn’t mean anyone ‘rugged.’”

SharpLink said that, as of Friday, over 95% of the company’s Ethereum holdings had been deployed in “staking and liquid staking solutions, contributing to Ethereum’s network security while generating yield.”

Among liquid staking protocols, Lido is the most popular, containing $23 billion in assets, according to crypto data provider DefiLlama. The protocol allows investors to lock up Ethereum to earn staking rewards, while also having access to a token pegged to the price of Ethereum.

Bitcoin treasury firms, which have soared in popularity this year, are not able to earn yield on their holdings by leveraging Bitcoin’s network. The difference, in terms of staking, can be attributed to the networks’ different consensus models.

In addition to SharpLink’s initial PIPE transaction, the Minneapolis-based firm said that it had raised $79 million through at-the-market (ATM) offering of common shares. Under its ATM equity program, the company is able to issue $1 billion in equity to buy more Ethereum.

A PIPE, or Private Investment in Public Equity, allows a firm to quickly raise capital by selling shares privately to institutional or accredited investors, as opposed to a public offering.

SharpLink said in its blog post that, on a broader scale, that its Ethereum holdings were second only to the Ethereum Foundation. As of Friday, the Ethereum Foundation held $540 million worth of Ethereum, Arkham Intelligence data showed.

Edited by James Rubin

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Myriad Moves: Will Strategy Boost Its Bitcoin Buys? Also Predictions on Fartcoin’s Rise and FIFA Club World Cup

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In brief

  • Predictors think Fartcoin will hold above $1.3 billion come Saturday, after its Coinbase listing went live.
  • Strategy has purchased less than 1,500 BTC in each of its last two buys, but predictors think it will eclipse the mark this week.
  • Paris Saint-Germain has Bitcoin on its balance sheet, and predictors have the club edging out Atlético Madrid on June 15.

Few places on the internet allow individuals to make predictions on sports, crypto, politics, and more—all while putting their money where their mouth is.

One such spot is prediction markets, which provide users the opportunity to express their knowledge across disciplines via real-time markets trading. Whether it’s Bitcoin price movements or sports outcomes, users can win big with smart calls.

Check out some of the best and most interesting markets on Myriad Markets in this week’s roundup below. 

(Disclaimer: Myriad Markets is a product of Decrypt’s parent company, DASTAN).

Fartcoin above $1.3 billion market cap on June 14 at 11:59pm UTC?

Market Open: June 12
Market Close: June 14
Volume: $1K

Crypto’s top flatulence-themed meme coin has been the butt of jokes for some time—but its market cap is no joke. 

In this flash market, Myriad users are asked to predict whether or not Solana meme coin Fartcoin will be above a $1.3 billion market cap on Saturday evening. 

So far, predictors are nearly split, with “yes” maintaining a slight edge at 56% as of Thursday afternoon. Those odds are down around 8% from the market high early Thursday morning, and have fallen alongside the token’s price. 

At the time of writing, Fartcoin (FARTCOIN) trades just above a $1.33 billion market cap, but its price has been sliding, dropping nearly 3% in the last 24 hours amid a broader crypto market selloff. And though above the marker for now, the token is only a further 2.33% drop from breaking below the market threshold.

But one potential wrinkle in this market is Fartcoin’s addition for trading on Coinbase, which went live early Thursday afternoon. Historically, tokens added to Coinbase have moved up upon listing, called the “Coinbase effect,” due to its exposure to a vast array of potential new investors. 

Will Fartcoin be next? 

What’s Next? Predictions for this market close on the morning of Saturday, June 14.

Strategy (MSTR) Bitcoin purchases above 1,500 BTC this week (June 10-16)?

Market Open: June 11
Market Close: June 14
Volume: $3.25K

Michael Saylor won’t stop buying Bitcoin, but how much his firm might buy is always a question. One of Myriad’s top prediction markets this week tasks predictors with determining whether or not Saylor and Strategy (formerly MicroStrategy) will add more than 1,500 BTC, or around $161 million worth, this week. 

Thus far, predictors overwhelmingly believe he will, giving around 82% chances of “yes” as of Thursday morning. 

That number hasn’t strayed much since the market opened, jumping only 2.9% since that time. 



Saylor has a history of massive Bitcoin purchases, many times eclipsing 1,500 BTC—in fact, the firm has made several purchase announcements in excess of 20,000 BTC over the years. But both of Strategy’s last two weekly purchase announcements have come in under 1,500 Bitcoin, like on Monday, when he announced a purchase of just $110 million or 1,045 Bitcoin. 

Will he follow suit this week, or buck the trend and add a bigger chunk to Strategy’s Bitcoin treasury? It already holds more than $62 billion worth of BTC, as of this writing.

What’s Next? Saylor and his firm typically announce their Bitcoin purchases each Monday.

Will PSG win against Atlético Madrid?

Market Open: June 9 
Market Close: June 15
Volume: $5.06K

After telling the world that it owns Bitcoin—and claiming the Champions League title, of course—soccer club Paris Saint-Germain is back in action to face Atlético Madrid in a FIFA Club World Cup matchup on June 15.  

One of the top-volume markets on Myriad as of this writing, predictors thus far are backing the Champions League champs, giving them 55.1% odds to win the match after 90 minutes of play plus added time. 

Those odds are similar to the 3-way line provided by traditional sportsbooks like DraftKings, which make PSG -120 favorites to win outright over Atlético, rather than lose or draw. At -120 in American odds, the club sits around a 54% implied probability to win, just a tad under the current Myriad line. 

Perhaps of note, the largest shareholders on Myriad are maintaining shares of “no,” instead predicting an Atlético victory or a draw. 

What’s Next? The pair will square off in Los Angeles on June 15.

Edited by Andrew Hayward

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Tether Buys $89 Million In Elemental Altus Royalties Shares
Crypto Trends

Tether Buys $89 Million In Elemental Altus Royalties Shares

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Tether, the issuer of the world’s largest stablecoin by market capitalization, continues its buying spree with its 32% stake acquisition in Canada’s public gold royalty firm Elemental Altus Royalties.

Tether Investments on Thursday announced the acquisition of 78,421,780 common shares of Elemental (ELE) from La Mancha Investments, representing 31.9% of Elemental’s issued and outstanding shares.

The transaction, completed Tuesday, was made at a price of $1.55 Canadian dollars ($1.14) per share, according to an announcement by Elemental, costing Tether approximately $89.4 million.

The investment marks a milestone in Tether’s strategy to “integrate long-term, stable assets such as gold and Bitcoin” in its ecosystem, both as a hedge and as part of its commitment to building a resilient digital economy infrastructure, the stablecoin issuer said.

Exposure to gold without mining risks

By acquiring ELE shares, Tether targets diversified exposure to global gold production through a royalty and streaming model, which avoids direct operational risks of gold mining.

“This model aligns with Tether’s preference for strategic, low-risk exposure to real-world assets that can enhance the transparency and stability of digital financial products,” Tether said.

Source: Paolo Ardoino

Tether CEO Paolo Ardoino highlighted the company’s growing investments in gold and Bitcoin, which reflect its “forward-looking strategy to build a more resilient and transparent financial system.” He said:

“Just as Bitcoin provides the ultimate decentralized hedge against monetary inflation, gold continues to be a time-tested store of value.”

“This is not just about investment — it’s about building financial infrastructure for the next century,” Ardoino said.

Implications for Tether Gold

Apart from hedging against inflation, Tether’s exposure to a diversified gold royalties portfolio through Elemental allows the stablecoin issuer to strengthen the backing of its ecosystem and advance its gold-backed stablecoin Tether Gold, or XAUt (XAUT).

The announcement also hints at more commodity-backed digital assets planned by Tether in the future using its new exposure.

Top five stablecoins by market capitalization as of June 12, 2025. Source: CoinGecko

Since launching in 2020, Tether’s XAUt stablecoin has emerged as the largest gold-backed cryptocurrency on the market, reaching a $854 million market cap in April, according to CoinGecko data.

Related: Tether CEO snubs IPO, says $515B valuation is ’a bit bearish’

XAUt’s rise came amid the meteoric rise of gold in the past year, with spot gold prices surging about 30% year-to-date and peaking at $3,500 in April. Gold prices have seen a slight slump since, dropping to $3,388 at time of writing, according to TradingView.

Tether’s active buying spree

Tether’s stake acquisition of Elemental Altus Royalties is yet another investment by the stablecoin issuer after the company posted a record-breaking profit of $13 billion last year and officially moved beyond stablecoins in April 2024.

In May, Tether bought $458.7 million worth of Bitcoin (BTC) for Twenty One Capital, a Bitcoin investment firm it backed that is awaiting the completion of a Special Purpose Acquisition Company merger with Cantor Equity Partners.

Tether subsequently moved another $3.9 billion in BTC to Twenty One Capital in early June, making it the third-largest corporate BTC holder after Strategy and MARA.

Tether previously took a 30% stake in Italian media company Be Water in March, invested in the Juventus football club and backed self-custodial crypto wallet Zengo in February.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight



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Why Strategy’s Bitcoin Buys Could Pose Long-Term Risks Despite Boosting Demand

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In brief

  • Strategy’s 3% ownership of Bitcoin is approaching “problematic” levels, threatening its reserve asset status, Sygnum says.
  • Acquisition vehicles have catalyzed Bitcoin demand similar to the impact of ETFs.
  • Liquid supply constraints could reverse the improvements in volatility, crucial for institutions.

Acquisition vehicles have successfully driven demand for Bitcoin in recent years, but their aggressive accumulation strategies may be undermining the asset’s long-term institutional appeal.

That’s according to the latest analysis from Swiss digital asset bank Sygnum, published on Tuesday.

While these vehicles have supported market demand, Sygnum warned that Strategy’s goal of owning 5% of Bitcoin’s supply risks undermining its status as a safe haven and could render it unsuitable as a reserve asset for central banks.

On Monday, Strategy purchased another 1,045 Bitcoin, worth approximately $110 million, bringing its current total to 582,000 BTC, equivalent to nearly 3% of the maximum Bitcoin supply that will ever exist. 

These purchases have gained an all-time profit of above 56%, according to a rough estimate from Saylor Tracker.

While this has helped boost Bitcoin’s price and profile, Sygnum warns the concentration is approaching dangerous levels.

“Large, concentrated holdings are a risk for any asset, Sygnum said in its report. “Strategy’s holdings are approaching a point where they become problematic.”

By portraying its leveraged, large-scale approach as the “new norm,” Strategy may be overshadowing the valid case for smaller, risk-adjusted treasury allocations, which Sygnum sees as a better fit for most companies.



Liquidity, market structure risks

Strategy’s model operates a high-beta proxy, utilizing convertible debt to acquire more Bitcoin while capitalizing on the momentum of its own stock price during bull markets, according to an analysis by Sherwood.

Whenever Bitcoin rallies, Strategy’s stock, MSTR, trades at a premium, enabling the company to raise capital and buy more Bitcoin, fueling a cycle of leverage and bullish sentiment.

Yet the risk in these scenarios is clear. 

If Bitcoin enters a prolonged downturn and MSTR falls below the conversion prices of its outstanding notes, the model starts to crack, and it may be forced to liquidate part of its Bitcoin holdings to cover debt obligations, Sygnum researchers explained.

“The perpetual dividend mitigates the risk” from debt-funded Bitcoin purchases, where gains and losses move in lockstep, they noted. 

But if Strategy “chooses to sell Bitcoin instead to avoid the additional drag of the share discount,” the result could be a “very damaging signal to the market.”

Edited by Sebastian Sinclair

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Blackrock Buys $500M Ethereum On Coinbase In 10 Days Arkham
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BlackRock Buys $500M Ethereum on Coinbase in 10 Days: Arkham

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BlackRock is going big on Ethereum. The world’s largest asset manager has snapped up over $500 million worth of ETH in just ten days, according to Arkham. The buying spree comes through its iShares Ethereum Trust, ETHA.

On June 4 alone, the fund added $73.2 million in ETH. The next day, it added another $34.7 million. This brings its total holdings to over $4.85 billion worth of ETH. 

Other firms are also jumping in. On June 2, Fidelity bought $29.8 million worth of ETH through its FETH Ethereum ETFs. These purchases are helping drive Ethereum ETF inflows across the board. U.S.-based spot Ethereum ETFs have now collected over $3.34 billion in net inflows in the past three weeks, according to data from Farside Investor.

At the same time, spot Bitcoin ETFs are seeing money flow out. In the same 10-day stretch, Bitcoin ETFs recorded $278.4 million in outflows on June 5 alone, led by ARk investment and major withdrawals from Fidelity, Bitwise, and Grayscale. Over the two weeks, total net inflows into Bitcoin ETFs added up to $44.2 billion, but recent days show a clear slowdown, with multiple firms logging consistent red days.

BlackRock CEO Larry Fink shared his thoughts on Ethereum’s potential in a statement. He believes the role of Ethereum and blockchain technology can grow dramatically if there is more acceptability, transparency, and better analytics related to these assets.

According to Fink, growth is not mainly about more or less regulation but depends on liquidity, transparency, and improved data. “I think its a function of liquidity, transparency, and then to that process no different than years ago.”

He compared this process to the early days of the mortgage and high-yield markets, which started slowly but expanded as better analytics and market acceptance developed. “I truly believe we will see a broadening of the market of these digital assets,” Fink said

What’s Ahead for Ethereum?

Ethereum’s price jumped from $1,790 to above $2,700 over the past month. This is a 54% increase. it’s showing signs of a breakout. 

Currently, the token is forming a pattern called a “Right-Angled Descending Broadening Wedge,” which in past cases has led to big price moves.

As of June 7, Ethereum is trading for $2,516, according to CoinMarketCap. It dipped briefly during a recent market drama involving Elon Musk and Donald Trump but quickly recovered. 

Also Read: ETH Season Heats-up: Weekly ETF Inflows in Ethereum Outshines Bitcoin



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