 ▲ BlackRock, Ethereum (ETH)/ChatGPT-generated image © |
Amid a prolonged slump in the cryptocurrency market that has seen Ethereum (ETH) prices tumble relentlessly and threaten the $1,400 level, the world’s largest asset manager, BlackRock, is drawing attention by taking a contrarian approach and aggressively accumulating shares of related companies.
According to DL News on Feb. 14 (local time), BlackRock disclosed in a recent 13F filing with the U.S. Securities and Exchange Commission (SEC) that it increased its holdings of Bitmine shares by 166% in the fourth quarter of 2025, expanding its position to $246 million. Bitmine is the world’s second-largest digital asset treasury (DAT) company primarily holding Ethereum. Tom Lee, chairman of Bitmine, who has predicted that Ethereum could rise to $250,000, welcomed BlackRock’s move with applause on social media.
BlackRock’s aggressive buying stands out even more as Ethereum undergoes a severe price correction. Ethereum has plunged 60% from its August peak and is currently trading around $2,000. Geoffrey Kendrick, head of digital asset research at Standard Chartered, warned that the price could fall another 25% from here to as low as $1,400. Bitmine has also suffered at least $6.6 billion in unrealized losses due to its Ethereum purchases, and its stock has dropped nearly 70% over the past six months, hovering around $20 per share.
Adding to the pressure, even pioneers of the crypto industry are selling off Ethereum. Ethereum co-founder Vitalik Buterin sold at least $7 million worth last week to fund new projects, while Aave founder Stani Kulechov disposed of more than $8 million. In contrast, Wall Street heavyweights are treating the downturn as a buying opportunity. Goldman Sachs revealed it holds more than $1 billion in spot Ethereum ETFs, and Bitmine also purchased an additional $80 million worth of Ethereum on Monday.
Despite the dismal market performance, BlackRock remains steadfast in its conviction about Ethereum. CEO Larry Fink strongly advocated for asset tokenization at the World Economic Forum (WEF) in Davos, Switzerland, in January, emphasizing that Ethereum would stand at the center of that transformation. In fact, 66% of all tokenized assets are concentrated within the Ethereum ecosystem, far surpassing BNB Chain at 10% and Solana (SOL) at 5%.
According to CoinMarketCap, Ethereum is trading at approximately $2,050 at the time of reporting. In the New York stock market, which closed early this morning, Bitmine’s share price rose 6.33% from the previous day to $20.99.
*Disclaimer: This article is for investment reference purposes only, and we are not responsible for any investment losses resulting from it. The content should be interpreted for informational purposes only.*