#BlackRock and Fidelity bought over 100,000 ETH.#

BlackRock and Fidelity's spot Ethereum exchange-traded funds (ETFs) collectively bought over 100,000 ETH this week, worth approximately $342.2 million. This news has sparked market attention, with many interpreting it as a sign of institutional investor confidence in Ethereum. Both BlackRock and Fidelity are globally renowned asset management firms, and their investment actions are often seen as market indicators. This large-scale purchase of ETH could signal a growing institutional belief in Ethereum, potentially driving its price higher. However, some argue that this is merely a short-term investment move by institutions and does not necessarily reflect their long-term bullishness on Ethereum. Ultimately, the price trajectory of Ethereum will depend on various factors, including market supply and demand, technological advancements, and regulatory policies.