ETH Surges 6.38% as $46.7M ETF Inflows and BlackRock Lead Institutional Wave

Ethereum (ETHUSDT) has risen by 6.38% over the past 24 hours, opening at 2611.16 and currently trading at 2777.73 on Binance. The price increase is primarily attributed to strong institutional inflows into Ethereum ETFs, highlighted by $46.7 million in new investments and BlackRock’s ETF leading weekly inflows, as well as positive sentiment following the U.S. SEC’s approval of spot ETFs for both Bitcoin and Ethereum. Additional bullish momentum was supported by significant transactions, including a 9,000 ETH deposit into Binance from a large wallet and Gamesquare’s announced phased investment plan of up to $100 million in Ethereum. Technical indicators show ETH maintaining levels above key support, with increased trading activity and volume exceeding $2.19 billion on Binance in the last 24 hours. Ethereum’s market capitalization remains robust, positioning it as the second-largest cryptocurrency, with recent developments and institutional participation contributing to its upward trajectory.