Ethereum (ETH) is experiencing a significant upward movement today, with its price crossing the $3,000 mark for the first time in several months. Currently trading around $3,020, ETH has seen an impressive surge of over 6% in the last 24 hours.
This rally is largely fueled by renewed institutional interest, with U.S. spot Ethereum ETFs seeing substantial net inflows. BlackRock's Ethereum ETF alone recorded over $300 million in daily inflows, contributing to over $500 million in total ETF inflows month-to-date. This strong institutional demand, coupled with Bitcoin reaching new record highs, suggests a bullish sentiment in the broader crypto market for Ethereum.
