iShares Ethereum Trust (ETHA) by BlackRock and Fidelity Ethereum Fund (FETH) by Fidelity collectively acquired $500 million worth of Ethereum on December 10–11. The data was reported by analytics platform Arkham.

PAST 48 HOURS: BLACKROCK AND FIDELITY BOUGHT OVER HALF A BILLION USD OF ETH pic.twitter.com/44N5mRAT5O
— Arkham (@arkham) December 11, 2024

BlackRock and Fidelity executed their purchases through Coinbase and its Prime platform.

Since its launch, ETHA has accumulated $2.99 billion, including $74.16 million added on December 11. Meanwhile, FETH has gathered $1.35 billion, though no new inflows were recorded during this period.

The sector overall saw inflows of $1.97 billion. However, a significant outflow of $3 billion from Grayscale’s ETHE affected the total figure. The combined assets under management (AUM) reached $13.18 billion.

Positive inflows have continued for 13 consecutive days.

As of writing, Ethereum is trading at $3,930, reflecting a 6.7% increase over the last 24 hours.

It’s worth noting that experts recently highlighted potential signals of Ethereum reaching new all-time highs in the near future, with consistent inflows into ETFs being one of the key indicators.

Earlier in December, CoinDesk analyst Omkar Godbole observed a bullish chart pattern in Ethereum similar to the one that preceded Bitcoin’s November rally. On December 6, Ethereum’s price surpassed $4,000 for the first time since March.

Previously, an analyst known as VentureFounder identified a “cup and handle” pattern in Ethereum’s chart, signaling a potential price increase to $7,200 within four months.