Facundo Fama
Ethereum and BlackRock ↓
• Just over two years after its launch, BlackRock’s ETHA currently holds approximately 3.5M ETH. While the fund experienced a decline in holdings through mid-2026, it has recently recovered, showing renewed demand through this institutional vehicle. • From its ATH of roughly 4M ETH in October 2025 to its June 2026 low, holdings declined by approximately 32%, while Ethereum’s market price fell by more than 60% during that time. Since then, holdings have recovered by nearly 30%, although they have not yet returned to the previous ATH. ETHA currently holds around 3% of Ethereum’s circulating supply. • The data show that, in a relatively short period and despite major market drawdowns, ETHA has come to hold a substantial share of Ethereum’s supply, reflecting a strong base of holders.