ETH Surges 6.41% as BlackRock Buys 50,970 ETH and ETFs See $300M Inflows

Ethereum (ETHUSDT) has experienced a 6.41% price increase over the past 24 hours, with the current price at $3,168.16 and a 24-hour trading volume of approximately $2.55 billion on Binance. The price surge is primarily attributed to significant institutional activity, including BlackRock’s acquisition of 50,970 ETH and record inflows into Ethereum ETFs, notably BlackRock’s ETHA drawing $300 million in a single day. Additional contributing factors include large ETH transfers to Binance, increased open interest in Deribit 3000 strike call options, and Bit Digital’s $67.3 million ETH treasury purchase. Positive sentiment was further supported by Standard Chartered launching spot ETH trading for institutional clients and Robinhood enabling ETH staking for U.S. customers. Overall, Ethereum’s market capitalization stands at around $378.64 billion, and the asset has shown strong upward momentum following these developments.