Ethereum Hits 4K as Weekly ETF Inflows Top $1 Billion

Key takeaways

ethereum surpassed $4,000 with over $1 billion in ETF inflows over the past week.
ethereum's latest surge sparks $11 million in liquidations amid renewed market activity.

ethereum, the second-largest cryptocurrency by market capitalization, has surpassed the $4,000 mark, a level it last reached in May 2024, driven by strong demand for ethereum ETFs.

This rally represents a 65% increase in the price of ethereum over the past month, following Donald Trump's victory as the 47th president of the US, and marks a strong recovery after months of underperformance compared to bitcoin.

Institutional interest in ethereum has been a key driver of this rise. ethereum ETFs saw a record daily inflow of $428 million on Thursday.

Over the past week, ethereum ETFs have accumulated more than $1 billion in inflows, with $788 million of that coming from BlackRock alone, according to Farside Investors. <a target="_blank" href="https://farside.co.uk/ethereum-etf-flow-all-data/” target=”_blank” rel=”noopener nofollow noreferrer”>data.

This wave of investment has driven ethereum's market value to over $485 billion.

The price movement triggered significant activity in the market, with $8 million in liquidations in a single hour and $11 million in four hours, CoinGlass. data sample.

This price action reflects market optimism following Trump's appointments this week of Paul Atkins as the new SEC chairman and David Sacks as cryptocurrency czar, both known as cryptocurrency advocates.