Ethereum (ETH) has breached the $3,000 mark for the first time in five months, a significant milestone buoyed by recent record-breaking highs in Bitcoin and renewed enthusiasm across the cryptocurrency landscape, The Block reported.
The second-largest cryptocurrency, currently trading at approximately $3,024, has seen an 8.9% increase in the past 24 hours. Its last ascent above $3,000 was on February 2nd of this year. The digital asset experienced a notable correction earlier in the year, plummeting from a December high of $4,100 to around $1,387 in April amidst what was termed “Trump ‘Liberation Day’ tariff turmoil.”
Despite this recent resurgence, ETH remains approximately 38% below its all-time high of $4,878, set in November 2021, according to The Block’s Ethereum price data.
Further underscoring the renewed investor interest, BlackRock’s iShares Ethereum ETF (ETHA) recorded a new daily inflow record of $300.9 million on Thursday. This surge coincided with Ethereum’s initial challenge of the $3,000 threshold and extends a five-day streak of inflows totaling $623.4 million. The previous record for ETHA was $292.7 million, set on December 5, 2024.
Across the board, U.S. spot Ethereum ETFs collectively attracted $383.1 million in net inflows on Thursday. Fidelity’s FETH, Grayscale’s ETH and ETHE, Bitwise’s ETHW, and VanEck’s ETHV also saw substantial inflows, ranging from $2.1 million to $37.3 million.
Nate Geraci, President of NovaDius Wealth Management, commented on the development via X, stating, “We have a new daily inflow record for iShares Ethereum ETF… $300+mil. 2nd best day for spot Ethereum ETFs overall since July 2024 launch.” He noted that the overall daily record for spot Ethereum ETFs stands at $428.5 million, also achieved on December 5, 2024.
Bloomberg Senior ETF analyst Eric Balchunas echoed the sentiment, proclaiming “Called it” in response to the record inflows. He had previously highlighted ETHA’s record daily trading volume, exceeding $800 million on both Wednesday and Thursday, anticipating strong flow data.
