BlackRock Doubles Ethereum Holdings to $10.2B Amid Institutional FOMO

BlackRock, the world’s largest asset manager, has rapidly expanded its Ethereum (ETH) holdings, signaling strong institutional confidence in the cryptocurrency. According to on-chain analytics firm Lookonchain, BlackRock acquired 1,035,653 ETH worth over $3.76 billion between July 1 and July 23, 2025. This purchase more than doubled the firm’s previous holdings, pushing its total to 2.8 million ETH valued at approximately $10.22 billion at current market prices.

The surge in BlackRock’s Ethereum accumulation coincides with a broader institutional buying trend. Spot Ethereum ETFs in the U.S. reportedly saw inflows totaling $4.4 billion in July alone, surpassing the entire amount accumulated by similar products throughout the previous year. Analysts suggest this aggressive buying spree marks July as a “FOMO month” for Ethereum, with institutions rushing to secure positions before further price increases.

Ethereum’s price momentum has also fueled the bullish sentiment. The cryptocurrency recently broke above $3,500 and hit a multi-month high of $3,817 on July 21, representing a 53.69% gain over the past month, according to CoinMarketCap data. Market watchers attribute the spike to renewed demand for Ethereum-based investment products and growing optimism surrounding the network’s future upgrades and DeFi ecosystem.

The latest move underscores Ethereum’s evolving role in institutional portfolios, with many investors now rebalancing previously underweight positions. As competition intensifies between Bitcoin and Ethereum for institutional dominance, BlackRock’s aggressive strategy could signal a broader shift in capital allocation toward ETH, potentially setting the stage for sustained long-term growth in the second-largest cryptocurrency by market cap.