Jack Ma Indirectly Invests in Ethereum — What Does It Mean?
TradingKey – Through his Yunfeng Fund, Alibaba founder Jack Ma now holds Ethereum exposure indirectly, signaling his confidence in the blockchain space and potentially drawing more investors into the market.
On September 2, public filings revealed that Yunfeng Financial Group (HKEX: 00376), backed by Jack Ma’s Yunfeng Fund, has acquired a significant stake in Ethereum. In today’s announcement, Yunfeng Financial disclosed it spent $44 million to purchase 10,000 ETH, making it the 27th-largest corporate or institutional holder globally.
Jack Ma’s move reflects a broader diversification strategy and underscores his belief in blockchain technology’s long-term potential. As a leading figure in global tech, his indirect ETH allocation may inspire other entrepreneurs to explore crypto and bolster investor confidence in Ethereum and the wider digital-asset ecosystem.
Despite the news, ETH’s price held firm above $4,000, trading in a tight range rather than climbing. One key suppressor is the Ethereum Foundation’s announcement that it will sell 10,000 ETH over the coming weeks — an action that has tempered upside momentum.
ETH Price Chart – Source: TradingView
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