Ethereum has blasted past $4,500, turning a steady climb over $4,000 into a full-on surge. Fueling the move are massive ETF inflows — over $1 billion in net inflows on August 12 alone, with BlackRock’s ETH taking the lead — alongside heavy institutional buying. Open interest in ETH derivatives has spiked 75%, signaling growing bullish conviction from both retail traders and big-money players.
The breakout crushed short positions, wiping out about $105 million, and with momentum this strong, the market’s gaze is shifting to $4,500 and potentially higher if the current pace continues.
