ETH Token Surges 7.84% as Spot ETF Inflows and Institutional Buys Drive Renewed Confidence

Ethereum (ETHUSDT) has experienced a 7.84% increase over the last 24 hours, with the price rising from a 24h open of $2,485.64 to $2,680.50 on Binance. This price surge is primarily attributed to several factors: continued net inflows into Ethereum spot ETFs since May 16, including a notable $249 million invested in BlackRock’s Ethereum ETF over the past five trading days, and growing institutional interest as evidenced by BTCS Inc.'s recent acquisition of 1,000 ETH. Additional support comes from Binance’s latest Proof of Reserves report showing a 1.05% increase in ETH holdings and a 21% rise in Ethereum’s Total Value Locked over the past month, signaling renewed investor confidence. The current market environment is characterized by strong trading volume and liquidity, with Ethereum maintaining its position as the second-largest cryptocurrency by market capitalization.