BlackRock, the world’s largest asset manager, has taken a major step into Ethereum by investing around $50 million in ETH . This move is seen as part of its broader effort to back its newly proposed Ethereum ETF, which is currently awaiting regulatory approval. According to blockchain data, the purchase came from a wallet linked to BlackRock’s iShares Ethereum Trust. The wallet sent 4999.9 ETH to Coinbase Prime, suggesting a high-value trade estimated at nearly $49.35 million based on recent prices. This isn’t BlackRock’s first venture into crypto—it previously launched a successful Bitcoin ETF. Now, this Ethereum investment shows the firm is doubling down on digital assets , which could influence other institutional investors to follow suit.