2/5

ETHU Flat as Market Ignores BlackRock's $276M Ethereum Buy

Ethereum's price movement today has been shaped by a mix of market volatility and institutional activity. Despite BlackRock's acquisition of $276.16 million worth of Ethereum, the market response has been muted, likely due to prevailing bearish sentiment in the crypto space. This sentiment is exacerbated by ongoing tariff discussions and liquidity tightening, which have made the market susceptible to risk aversion. Additionally, the recent Dencun update has increased Ethereum's circulating supply, raising concerns about its status as "ultrasound money." This supply increase, along with Ethereum's underperformance relative to Bitcoin, has led to a cautious investor outlook.

The Volatility Shares Trust 2x Ether ETF (ETHU) remained unchanged at $4.63 as of 2:20 PM on Wednesday, February 5.