#贝莱德买入5.6亿美元ETH# BlackRock releases a major signal, is a big ETH coming?

After several weeks of significant inflows, Bitcoin ETFs began to see net outflows last week, while Ethereum ETFs experienced net inflows against the trend, a phenomenon that has not occurred since the approval of the Bitcoin and Ethereum spot ETFs in the United States.
More importantly, BlackRock sold about 1,249 BTC and bought 27,241 ETH yesterday. This seemingly ordinary action signifies an extraordinary signal: the Ethereum ETF, once overlooked by institutions, is making a strong comeback, and a performance moment belonging to ETH may soon be on the horizon.

The undervalued development ecosystem of ETH

Since the end of the last bull market (the end of 2021), Ethereum has undergone four significant upgrades:
The Merge on September 15, 2022, is the most complex system upgrade in Ethereum's history, completing the transition from Proof of Work (PoW) to Proof of Stake (PoS). This upgrade reduced the total network energy consumption by 99.95%, directly opening the door to traditional financial institutions. PoS increased the cost of a 51% attack from $20 billion to $3.2 trillion, enhancing the network's censorship resistance by over 10 times.

The Shanghai upgrade activated on April 12, 2023, unlocked the withdrawal feature for staked ETH, fundamentally changing the landscape of the staking market.

The Cancun upgrade (DenCun), implemented on March 13, 2024, introduces Proto-Danksharding through EIP-4844, laying the foundation for sharding technology. On May 7, 2025, Ethereum successfully completed the Pectra upgrade, clearing obstacles for the launch of ETH-staked ETFs. It allows validators to trigger withdrawals through smart contracts without waiting for a queuing mechanism. Ethereum continuously upgrades and optimizes its technology, laying the groundwork for Ethereum as the global settlement layer. It builds an open-source programmable currency protocol, and in 2024 alone, its on-chain settlement value exceeds $25 trillion.
This network has gathered the largest number of stablecoin issuers and real-world asset tokenization (RWA) projects globally. At the same time, it has become a digital asset with self-appreciation ability due to its native staking yield mechanism and DeFi ecosystem. The built-in re-staking system and decentralized financial applications continuously activate the compounding effect of on-chain economy.
However, ETH has always struggled to rise and remains in an undervalued state.
In the past two years, DeFi has revived, with the total value locked (TVL) rebounding from a low of $20 billion in 2023 to $60 billion in 2025;

The explosion of RWA (Real World Assets), with over 95% of BlackRock's BUIDL Fund assets tokenized in the Ethereum ecosystem, anchored to real assets such as US Treasury bonds.
Although competitors like Solana have diverted some users with high throughput, Ethereum still holds a 53.4% share of the public chain TVL thanks to its security and developer ecosystem.

The Comeback of Ethereum ETF

The first-mover advantage of Bitcoin ETFs once overshadowed Ethereum ETFs, but recently, the market landscape has undergone a fundamental reversal.
Glassnode stated that the early ETF had a minimal impact on the spot price of Ethereum. "The Ethereum ETF initially accounted for only about 1.5% of the spot market trading volume, indicating that the market response was relatively muted at the time of the ETF launch."
As of now, investors in BlackRock and Fidelity's spot Ethereum ETFs are facing significant losses, with an average unrealized loss of about 21%.
Data shows that BlackRock's spot Ethereum ETF has a cost basis of $3,300, while Fidelity is higher at $3,500.

However, the Ethereum spot ETF had a net inflow of 286 million USD last week, marking three consecutive weeks of net inflows. In contrast, BTC has strengthened against the trend.

In the past year, the ETFs issued by Grayscale have experienced capital outflows, dragging down the performance of the Ethereum ETF. Now, BlackRock's holdings have surpassed Grayscale, with net inflows covering Grayscale's outflows. The positive accumulation of the Ethereum ETF is slowly providing it with bullish momentum.

On the company level, Nasdaq-listed company SharpLink Gaming announced a major strategic move by reaching a $425 million financing agreement through a private equity investment (PIPE), aimed at advancing its Ethereum financial strategy. Dubbed the Ethereum version of Strategy moment.

Views on Ethereum price predictions

1. BlackRock's March Boom: If it breaks through $2,000, it may welcome 65% of the amplitude. 长期逻辑:质押收益折现模型显示,长期估值可能达 3,000-3,500 美元。
2. ARK Invest 2026 target: $5,000.
3. Standard Chartered's aggressive prediction: ETH could surpass $14,000 in 2025. If Ethereum's market cap matches that of Bitcoin (assuming BTC reaches $175,000), the price of ETH could reach $35,000.
4. Glassnode Key Price Levels: Short-term resistance at $2,900 (Active Investor Cost Line), breaking through may open up upward space; support at $2,000, with a probability of breaking below 15%.