Ethereum surges past $2,500 on record ETF inflows

Ethereum has surged to its highest price in over four months, driven by record inflows into U.S. spot exchange-traded funds and significant activity from large investors, with analysts eyeing the $2,500 level as a key hurdle for sustained momentum.

The cryptocurrency climbed above $2,430 on Friday, marking its strongest level since mid-April, and traded around $2,520 on Saturday. The rally was fueled by a four-day streak of net inflows into U.S. spot Ethereum ETFs, which totaled approximately $512.4 million. The strongest single-day inflow occurred on Thursday, when the funds absorbed $220.7 million, according to data from SoSoValue. This followed a substantial $189.15 million inflow on Tuesday, which was reported as the largest daily figure for these products in 10 months.

Institutional demand played a central role, with BlackRock's ETHA fund leading the buying, capturing $122.12 million on Tuesday alone. Its cumulative net inflows have now reached $11.85 billion. Fidelity's FETH and Grayscale's Ethereum ETF also recorded significant purchases during the same period. The total net assets across all U.S. spot Ethereum ETFs climbed to a multi-month high of $13.58 billion.