$ETH Ethereum Gathers Momentum Amid Institutional Purchases

Ethereum ($ETH ) is showing strong signs of growth amid increasing institutional interest. Open interest in futures has risen by 40% over the past month, while BlackRock quietly acquired Ethereum worth $500 million, indicating confidence.

Spot ETFs on Ethereum have seen steady inflows, adding millions of Ethereums recently. Technically, Ethereum has broken key levels, such as the 200-day moving average, suggesting potential growth to $3,100–$3,600.

Despite minor price fluctuations, investors poured $249 million into BlackRock's Ethereum ETF last week. Increased activity in DeFi and staking on the Ethereum network further supports the bullish outlook.