ETH Surges 2.57% as Institutional Inflows Hit $225M and BBVA Launches Retail Trading
Ethereum (ETH) has experienced a 2.57% price increase over the past 24 hours, rising from a 24h open of $2,533.99 to a current price of $2,599.06 on Binance. This upward movement is primarily attributed to continued strong institutional interest, highlighted by BlackRock holding $4.45 billion in Ethereum and Ether-based ETPs recording $225 million in inflows for the eleventh consecutive week. Additional positive sentiment has been generated by BBVA’s launch of retail Ethereum trading and custody services compliant with EU MiCA regulations, and anticipation of upcoming network upgrades aimed at improving scalability and efficiency. Recent U.S. government transfers of ETH to Coinbase Prime have also contributed to increased market activity and attention. Ethereum's 24-hour trading volume remains robust, with the ETH/USDT pair on Binance recording 348,020.75 ETH traded, supporting a market capitalization of approximately $316.4 billion and reinforcing its position as the second-largest cryptocurrency by market cap.