ETH Surges 6.33% as SEC Approves Spot ETFs and Institutions Accelerate Accumulation

Ethereum (ETHUSDT) has experienced a 6.33% price increase over the past 24 hours, currently trading at $2,791.04 according to Binance. The recent surge is primarily attributed to the SEC's approval of the first spot Ethereum ETFs, which has boosted institutional and retail investor confidence. Major financial firms such as BlackRock, Fidelity, and Grayscale are preparing to launch these ETFs, signaling increased regulated access to ETH. Additional bullish momentum comes from significant corporate accumulation, with Bit Digital raising its holdings to over 100,000 ETH and GameSquare initiating a $100 million Ethereum treasury. On-chain data also shows continued whale accumulation and notable institutional withdrawals, such as an $89.45 million ETH transfer potentially linked to Cumberland. Trading volume has risen sharply, with the 24-hour volume near $29 billion and ETH maintaining its position as the second-largest cryptocurrency by market capitalization. The combination of ETF approvals, institutional interest, whale accumulation, and strong technical signals has driven the current upward price movement.