ETH Surges 5.69% as Spot ETF Approval Sparks $1.17B Inflows and Whale Accumulation

Ethereum (ETH) has experienced a notable price increase over the past 24 hours, rising 5.69% to $2,907.31 on Binance, with a 24h open of $2,750.66. This upward movement is primarily attributed to strong institutional inflows following the U.S. SEC’s approval of spot Ethereum ETFs, which led to $1.17 billion in net inflows for Ethereum investment products in June 2025. Additional drivers include increased holdings by Ethereum 'mega whales' and renewed positive sentiment across the crypto market, supported by Bitcoin’s recent all-time high and corporate announcements of ETH treasury additions. The recent Pectra network upgrade and robust trading activity, with over $2.11 billion in ETH/USDT volume on Binance, have further contributed to market momentum. Ethereum’s market capitalization stands at approximately $340 billion, with a circulating supply around 120 million ETH, reflecting heightened activity and strong investor interest.