Exchange-traded funds under financial giants BlackRock and Fidelity purchased $500 million worth of ether in the past two days, according to the crypto data tracking platform Arkham.

Both firms largely made the purchases through the crypto exchange Coinbase or its institution-focused crypto services platform Prime, Arkham data shows.

BlackRock's ETHA and Fidelity's FETH are among the top spot Ethereum ETFs, leading the all-time high inflows seen on Nov. 30. ETHA and FETH brought in $372.4 million and $103.7 million, respectively, in trading volume on Dec. 10, according to The Block's Data Dashboard.

The U.S. Securities and Exchange Commission approved eight spot Ethereum ETFs, including those from BlackRock and Fidelity, on May 23.

Ethereum traded at $3,830 as of 5:31 p.m. ET (22:31 UTC) on Dec. 11. The token's price increased 5.1% and brought in $39.3 billion in trading volume in the past 24 hours, The Block's ETH Price Page shows.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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