BlackRock accelerated its cryptocurrency accumulation this week, purchasing an estimated $2.31 billion of ether and about $887 million of bitcoin, according to multiple on-chain transaction trackers. One disclosed trade showed the asset-management giant buying 74,385 ETH, valued at roughly $330.5 million, while separate transfers connected to institutional wallets withdrew 92,899 ETH ($412 million) from the Kraken exchange. The buying spree coincided with the strongest week on record for U.S. spot Ethereum exchange-traded funds. Net inflows reached about $2.85 billion for the week to 16 Aug., nearly doubling cumulative inflows from January through June, data compiled by market observers show. The ETHA product alone attracted $338.1 million on 15 Aug., although the broader Ethereum ETF complex registered a same-day net outflow of $59.3 million—its first after an eight-session streak that had added roughly $3.7 billion. Across the broader market, spot bitcoin and ether ETFs posted a record $40 billion in weekly trading volume, underscoring deepening institutional interest in digital assets despite persistent price volatility. Analysts said BlackRock’s rotation into ether and the surge in ETF activity highlight a shift in focus from bitcoin toward the second-largest cryptocurrency amid expectations of further product launches and network upgrades.