According to Odaily Planet Daily, BlackRock, one of the world's largest asset management companies, with $9 trillion in assets under custody, plans to purchase $10 million worth of ETH to fund its Ethereum ETF. In a filing with the U.S. Securities and Exchange Commission (SEC), BlackRock stated that on May 21, 2024, the sponsor's affiliate Seed Capital Investors purchased a seed creation basket containing 400,000 shares at $25 per share under certain conditions. The total proceeds from the sale of the seed creation basket by the trust fund are $10,000,000. The trust fund intends to use the proceeds from the seed creation basket to purchase ETH at some point, and may not have made any purchases yet.