[DigitalToday reporter Yoonseo Lee (이윤서)] BlackRock has recently bought about $1.57 billion worth of ether over the past 20 days through spot Ethereum exchange-traded funds (ETFs).

On Sept. 17 (local time), blockchain media outlet U.Today reported that BlackRock increased ether purchases during the period based on funds flowing into its ETF products.

According to figures compiled by on-chain analytics firm Arkham Intelligence, most of the purchases came from the iShares Ethereum Trust ETF (ETHA). ETHA bought about $1.27 billion worth of ether based on inflows over several recent days.

About $296.5 million also flowed into the new iShares Staking Ethereum Trust ETF (ETHB) over the same period. Combined, BlackRock’s net ether purchases amount to about $1.57 billion. ETHB did not record a single day of net outflows over the past 20 days. Ether price volatility continued over the same period, but investor demand via ETFs remained steady.

With the accumulated buying, BlackRock’s ether holdings rose to about 3.56 million ETH as of Sept. 17. The holdings are valued at about $8.69 billion. BlackRock’s ether holdings are also growing quickly on the back of the recent ETF inflows.

The rise in holdings is drawing attention because it is tied to ETF inflows rather than short-term trading. Inflows into the two products over the past 20 days directly led to ether purchases, pushing BlackRock’s holdings balance to 3.56 million ETH. The absence of net outflows despite market volatility shows demand for ether exposure is being maintained.

That makes the next point of focus whether inflows into BlackRock’s ETFs continue. So far, both ETHA and ETHB have supported an expansion of BlackRock’s ether position, and ETHB in particular has continued to see inflows without net outflows over the past 20 days. Whether BlackRock further increases its ether holdings is expected to be confirmed again through ETF fund flows.

BLACKROCK HAS BOUGHT $1.5 BILLION OF ETH BlackRock bought $1.27B of ETH through ETHA over the past 20 days, and another $296.5M through ETHB. ETHB has not seen a single day of outflows in that time. Will they keep buying? pic.twitter.com/4bQ3GlBCEz