Ethereum sharpens decline on sustained profit-taking

Ethereum fell on Friday for the third straight session on profit-taking away from four-week highs, while still on track for weekly gains after investment demand improved on crypto assets. 

At Bitstamp, Ethereum shed $4, or 0.8% to $484 from the opening of $468, with an intraday high at $469, and a low at $452. 

Ethereum rose 1.9% on Thursday, the second loss in a row on profit-taking after hitting four-week highs at $515. 

Market value of cryptocurrencies fell $2 billion on Friday to a total of $285 billion, after reaching $300 billion on Wednesday, the highest since June 12. 

Ethereum is up 4.5% so far this week, on track for the second weekly profit in the last three weeks as most cryptocurrencies gain ground with upbeat risk appetite in the markets following a strong of positive news. 

BlackRock to Invest in Crypto? 

BlackRock, the world's biggest assets manager, is reportedly looking into investment options in cryptocurrencies and blockchain technologies. 

Financial News reported that BlackRock formed a team from various units at the company to look into cryptocurrencies, with an eye on investing in Bitcoin futures in particular.