ETH Surges 11.64% as $1.1B ETF Inflows and BlackRock Acquisition Drive Institutional Momentum

Ethereum (ETHUSDT) has experienced a significant price increase of 11.64% over the past 24 hours, with the current price at $3,402.74 on Binance, up from a 24-hour open of $3,047.95. This surge is primarily attributed to strong institutional inflows, including nearly $1.1 billion into Ethereum ETFs and notable acquisitions such as BlackRock’s purchase of 50,970 ETH. Additional drivers include Standard Chartered Bank launching institutional spot trading for ETH in the UK, the introduction of new Soft Staking and Liquidity Staking products on Binance, and a rising ETH/BTC ratio indicating capital rotation from Bitcoin to Ethereum. Technical indicators show bullish momentum, supported by high trading volumes and increased market capitalization, although some overbought signals suggest potential for short-term volatility. Overall, Ethereum’s market activity remains robust, with a 24-hour trading volume exceeding $42 billion and a circulating supply of approximately 120.71 million ETH.