Ethereum has reached $3,458 - its highest price since mid-January. The surge is linked to large inflows from institutional investors into spot ETFs and renewed activity from corporate buyers. Daily trading volume surpassed $2.5 billion, while the futures market showed growth without signs of overheating.
ETF Inflows Break Record
According to SoSoValue, a total of $726.74 million flowed into nine spot Ethereum ETFs on Wednesday. The BlackRock ETHA fund led the way with $499 million. Eight out of the nine products reported positive inflows. Since the start of July, these funds have attracted $2.27 billion - the highest monthly figure since they launched in July 2024.
Crypto analyst Rachael Lucas from BTC Markets noted that institutional investors are increasingly viewing Ethereum as a long-term asset rather than a speculative tool. She added that funds now control around 4% of ETH's total market cap.
Corporations Add ETH to Treasury Holdings
Nick Ruck, Director of Research at LVRG, pointed out that public companies are helping sustain demand by converting part of their reserves into ETH. According to Arkham, SharpLink Gaming - backed by Consensys - now holds 280.706 ETH, surpassing the Ethereum Foundation. On Wednesday alone, the company acquired an additional 20.279 ETH.
Ruck emphasized that investors see Ethereum as an undervalued asset with strong fundamentals and limited supply growth. He also stated that the market appears to be preparing for an attempt to reach a new all-time high.
Derivatives Volume Climbs Without Overheating
Meanwhile, analysts at Glassnode observed a 27% increase in Ethereum futures trading volume over the past 24 hours, along with a 6% rise in open interest. At the same time, the funding rate remained neutral at 0,0047%. Analysts believe that traders are opening new positions cautiously, without excessive margin pressure. This indicates healthy market dynamics without signs of speculative frenzy.
