Ethereum is making headlines with a significant surge in its value, fueled by record inflows into exchange-traded funds (ETFs) and growing institutional adoption. As market demand strengthens, the cryptocurrency is experiencing notable gains across the altcoin sector.
Ethereum’s Remarkable Surge
- The strength of Ethereum has extended throughout the altcoin market.
- The token reached an intraday high of $3,463 earlier in the day.
- The rally occurred following record net inflows into nine U.S.-listed spot Ethereum ETFs.
In the last 24 hours, Ethereum experienced a robust comeback, surpassing the $3,400 mark for the first time since mid-January. As of early Thursday, ether was trading at $3,436, marking an 8.4% increase over the past day. The token peaked at $3,463 earlier on the same day.
This rally comes as nine spot Ethereum ETFs listed in the United States saw their largest daily net inflow ever on Wednesday, totaling $726.74 million, according to data from Farside Investors. BlackRock’s iShares Ethereum Trust (ETHA) led the inflows with $499 million, followed by Fidelity’s FETH with $113 million. This surpasses the previous record of $428 million set on December 5, 2024, representing a nearly 70% increase.
The surge in purchases has driven total net inflows for July to $2.27 billion, establishing it as the best month since the ETFs were launched a year ago. U.S. spot Ethereum ETFs now collectively hold over 5 million ETH, accounting for more than 4% of the circulating supply. Notably, on Wednesday, these ETFs absorbed nearly 107 times the ETH issued by the network, according to Ultra Sound Money.
Institutional Interest in ETH Rises
Institutional interest is further reflected in direct ETH holdings by corporations. Data from the ETH strategic reserve indicates that treasuries now control over $5.33 billion in ETH, equivalent to 1.33% of the total supply. Companies added over $1.6 billion in ETH just in June.
Among the most aggressive buyers is SharpLink Gaming, which purchased an additional $68 million in ETH over the past 24 hours. In just eight days, the company has acquired $343 million worth of ETH, as reported by blockchain analytics platform Lookonchain. Additionally, World Liberty Financial, a company linked to former U.S. President Donald Trump, added $5 million in ETH on Wednesday at a price of $3,266, above its historical average purchasing range from November 2024 to March 2025. BitMine Immersion Technologies, led by Tom Lee of Fundstrat, has announced its Ethereum holdings now exceed $500 million.
The Altcoin Market Follows Ethereum’s Lead
The strength of Ethereum has extended to the broader altcoin market, with several tokens experiencing gains amidst a renewed risk appetite in cryptocurrencies. The current momentum of Ethereum—driven by a blend of ETF demand, treasury acquisitions, and supply absorption—positions the asset for further increases, provided market conditions remain favorable.
In the last 24 hours, several major altcoins outperformed Bitcoin, which saw a modest gain of only 0.7%. XRP was among the rally’s leaders with a notable increase of 7.6%, trailed by Dogecoin’s 6.9% rise. Other notable gains included Solana at 5.2%, BNB at 3.4%, Tron at 3.2%, and Cardano at 3.5%.
