ETH Surges 3.26% After SEC Approves Spot ETFs, Institutional Inflows Drive $2.24B Trading Volume

Ethereum (ETHUSDT) has experienced a 3.26% price increase over the last 24 hours, with the current price at $2,801.98 and a 24-hour open of $2,713.57, according to Binance data. This upward movement is primarily attributed to the recent approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission, which has driven significant institutional inflows and boosted market confidence. Additional contributing factors include positive sentiment from strong technical indicators, ongoing inflows into spot ETFs, and favorable macroeconomic signals such as discussions of potential interest rate cuts by the Federal Reserve. Trading activity remains robust, with the ETH/USDT pair on Binance accounting for over $2.24 billion in volume, and Ethereum's market capitalization is approximately $340.42 billion, reflecting its continued leadership in the cryptocurrency market.