BlackRock ETF Buys $18 Million ETH as Ethereum Defends $2000 Level

Ethereum is holding firm above the $2000 psychological threshold, buoyed by significant institutional buying. BlackRock's spot Ethereum ETF has purchased an additional $18 million worth of ETH, providing crucial support amid broader market volatility. The asset shows resilience with gains of 2.3% on daily charts and 6.4% since March 2025, despite a 2.6% weekly dip, signaling strong underlying institutional demand.

Is Ethereum Rallying Due To BlackRock ETF Purchases?

According to Farside Investors, BlackRock purchased $18.8 million worth of Ethereum (ETH) on March 11, 2026. Meanwhile, Fidelity and Grayscale purchased $19.1 million each on the same day. The uptick in ETF inflows may have positively impacted ETH’s price. ETFs have become a key price driver within the crypto space. Bitcoin (BTC) and Ethereum (ETH) hit new all-time highs in 2025 thanks to increased ETF inflows.

Moreover, investors may be buying the dip. Bitcoin (BTC) has reclaimed the $70,000 price level once again. BTC, being the market leader, may have led to Ethereum (ETH) experiencing a similar surge. However, Bitcoin (BTC) has struggled to breach past the $72,000-$73,000 resistance level. The original crypto market face another rejection soon. Ethereum (ETH) could follow BTC’s trajectory if the original crypto faces another correction.

Additionally, the crypto market is still in bear territory. Volatility is high and risk appetite among investors is low. Given the escalation in the US-Iran conflict, we could see a prolonged period of market bearishness. Ethereum (ETH) may not see a big price surge under current conditions. However, there is a chance that the Federal Reserve will begin printing more money soon, and announce an interest rate cut. Such a development could help the crypto market. Ethereum (ETH) may be able to sustain its rally if rates go down further.