BlackRock, the world's largest asset manager, has significantly increased its exposure to Ethereum (ETH) through its Ethereum-focused exchange-traded fund (ETF). As of last month, the firm holds approximately 993,591.95 ETH, valued at around $3.5 billion, making it the 12th largest holder of Ethereum globally. 

This substantial acquisition was facilitated through BlackRock's iShares Ethereum Trust ETF (ETHA), which aims to mirror the performance of Ether, providing investors with a convenient way to access Ethereum within traditional brokerage accounts. 

The move reflects a broader trend of institutional adoption of cryptocurrencies, with major financial firms like BlackRock and Fidelity purchasing over $500 million worth of Ethereum through their ETFs. 

BlackRock's increased involvement in the crypto space underscores the growing acceptance of digital assets in traditional finance.