BlackRock clients purchased around $111 million worth of Ethereum today, as the asset management giant continues building institutional exposure to the second-largest crypto asset.

BlackRock’s clients have been actively trading Ethereum through the firm’s ETF products in recent weeks, with both inflows and outflows reflecting shifting institutional sentiment.

Ethereum has seen growing adoption in tokenization applications and decentralized-finance use cases. The approval of spot and futures ETH ETFs has opened a pathway for institutional flows and increased access to the asset.