Ethereum surged yesterday to $4,300, its highest level since the 2021 bull market, driven by institutional demand, which translated into record capital inflows to ETFs. U.S.-listed spot ETH ETFs attracted over $1 billion in a single day (a new record), with the largest contributions from BlackRock ETHA ($640 million) and Fidelity FETH ($277 million). Total net inflows since May have exceeded approximately $10.8 billion. BlackRock ETHA now manages over $13 billion in assets, and ETH funds have recorded five consecutive days of positive inflows. The current ETH price remains roughly 10% below its all-time high above $4,800.
Interest extends beyond ETFs, as publicly traded companies are rapidly increasing their exposure to ETH. Sharplink announced plans to raise an additional $400 million to boost its holdings above $3 billion (~1% of supply), already controlling around 600,000 ETH; BitMine (~1.2 million ETH), Bit Digital (~120,306 ETH), and EtherMachine (~345,362 ETH) are also among the largest holders. Fundamental Global (FG Nexus) disclosed the purchase of 47,331 ETH and intends to further expand its stake in the network. Institutional interest is rising, ETFs are breaking records, and ETH is outperforming BTC in August.
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