BlackRock, through its Ethereum-focused ETF, now holds $3.5 billion worth of ETH, making it the 12th largest holder of the asset in the world. BlackRock's CEO believes Ethereum has potential for growth as a blockchain and sees it as an asset rather than a currency. This milestone reflects the increasing interest of institutional investors in cryptocurrencies, with more institutions launching their own ETFs. However, as BlackRock has a major stake in ETH, its moves could have an impact on the market. The value, scalability, and adoption of Ethereum are being questioned as we approach 2025.



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