BlackRock's $500 million Ethereum Bet Fuels $3,000 Rally Forecast

- BlackRock's $500 million Ethereum investment drives market optimism. - Futures and ETF inflows signal a potential rally to $3,000. On June 9, 2025, Cointelegraph reported that multiple factors forecast a potential Ethereum price rally to $3,000 or higher. Key elements contributing to this outlook include BlackRock's accumulation of Ethereum, a surge in futures open interest, continuous spot ETH ETF inflows, and bullish technical indicators. BlackRock recently purchased $500 million in Ethereum over the past 10 days, increasing its total holdings to 1.5 million ETH, worth approximately $2.71 billion. This significant accumulation by the asset management giant underscores growing institutional confidence in Ethereum. In addition, Ethereum futures open interest notably increased by 40% over the last 30 days, reaching $36 billion, which suggests growing trader confidence and interest in Ethereum-linked derivative markets. Furthermore, spot Ethereum ETFs recorded net inflows for four consecutive weeks. These inflows added 97,800 ETH, bringing total holdings to 3.77 million ETH and demonstrating sustained investor interest in direct Ethereum exposure. Bullish technical indicators also support the potential rally. Ethereum's price has been consolidating between $2,300 and $2,800, and the 4-hour chart shows ETH maintaining support from the 200-day exponential moving average (EMA). The chart also reveals ETH forming a hidden bullish divergence with the relative strength index (RSI). Additionally, ETH is now back above the midline of the Gaussian channel, a position that historically signals potential price rallies. Therefore, technical analysis suggests that if current momentum persists, Ethereum may push towards $3,100 to $3,600. Moreover, Ether-based investment products led inflows among crypto ETPs over the past week, attracting $296 million. This marks the seventh consecutive week of inflows, highlighting consistent investor confidence in Ethereum-based products. According to CoinMarketCap on June 9, Ethereum (ETH) traded at $2,659.55 as of 23:17 UTC, and its 24-hour trading volume had increased by 5.96%.