Ethereum (ETH) reached $3400 for the first time since January 2025, showing a strong increase of 6.8% in a day. The key driver was a record inflow of capital into spot Ethereum ETFs, which attracted $726.74 million on July 16 — the largest daily influx since their launch in July 2024. The leader was BlackRock iShares Ethereum Trust (ETHA), which gathered $499 million, followed by Fidelity FETH with $113 million. The total assets under management of ETH ETFs reached $16 billion, accounting for 4% of Ethereum's circulating supply.
Growth is supported by institutional interest: companies like SharpLink and BitMine are accumulating $ETH , surpassing even the reserves of the Ethereum Foundation. Technical analysis indicates strong support at $2850 and growth potential up to $4000 if the current momentum is maintained.
Activity in the Ethereum ecosystem, including Layer-2 development and asset tokenization, is boosting optimism. ETFs are absorbing ETH 100 times faster than the network is issuing new tokens, reducing market supply.
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