BlackRock Increases ETH Holdings, Eyes Pectra Upgrade

BlackRock has recently acquired $18.7 million in Ethereum (ETH) on Coinbase and previously allocated $2 billion worth of ETH to its BUIDL fund, underscoring ongoing institutional confidence in Ethereum's long-term value. This activity coincides with a surge in US technology fund inflows, which reached $800 million last week and $49 billion year-to-date, reflecting strong investor interest driven by innovation and AI. The bullish sentiment in tech stocks is spilling over into the crypto market, with Ethereum experiencing a 2.5% price increase and an 18% rise in trading volume. Ethereum is also preparing for the Pectra upgrade, designed to lower transaction costs and alleviate network congestion, potentially enhancing its competitiveness against rivals like Solana. These developments highlight robust institutional and retail optimism toward Ethereum's future. The combined impact of capital inflows, institutional accumulation, and technical upgrades supports positive momentum for both technology and crypto sectors.