TL;DR
- ETH jumps 8% in 24 hours to smash through $3,000 resistance, its highest level since early February, riding the wake of fresh Bitcoin all-time highs.
- BlackRock’s iShares Ethereum Trust (ETHA) pulls in a record $300 million in a single day, igniting a five-day $623 million institutional inflow streak.
- U.S. spot ETH ETFs scoop up roughly $383 million Thursday (Fidelity’s FETH +$37 million, Grayscale +$40 million), setting the stage for a push toward $3,400 if $3,000 holds.
Ethereum roared back to life on Friday, jumping more than 8% in 24 hours to finally reclaim the $3,000 mark, its highest level since early February. Fresh all-time highs in Bitcoin set the stage for a broader crypto rally, and ETH effortlessly rode that wave. Traders watched in amazement as the second-largest cryptocurrency burst through resistance, signaling renewed optimism for the world’s foremost smart contract network.
Return to $3,000 Realm After Five Months
ETH’s rally marks the first time it has traded above $3,000 since Feb. 2, following months of a steady climb from a deep April trough near $1,387. After peaking around $4,100 last December and faltering amid macro uncertainty, most notably over tariff headlines.
At one point on Friday, ETH hit $3,024 before settling near $3,015, reaffirming bullish momentum across both institutional and retail desks. At the time of publication, Ethereum trades at around $2,970, increasing 7%.
BlackRock ETF Sparks Inflows Frenzy
Fueling the surge was record-setting demand for BlackRock’s iShares Ethereum Trust (ETHA), which drew more than $300 million in net inflows on Thursday. That single-day tally shattered the previous high set in December 2024 and kicked off a five-day streak totaling over $623 million of fresh capital. ETF watchers cheered as the world’s largest asset manager demonstrated that institutional buyers remain eager to back ETH’s long-term upside.
Spot Ethereum ETFs See Broad Support
It wasn’t just BlackRock stealing the spotlight. The combined suite of U.S. spot Ethereum ETFs pulled in roughly $383 million on Thursday alone. Fidelity’s FETH added more than $37 million, while Grayscale’s offerings contributed nearly $40 million between ETH and ETHE products. Smaller players like Bitwise and VanEck also chalked up notable inflows, underscoring decentralized finance’s growing appeal to mainstream investors.
What’s Next for Ethereum Bulls?
With Bitcoin smashing fresh highs and spot funds stocking up on ETH, technical charts hint at further upside if $3,000 firmly holds as support. Analysts are eyeing $3,400 as the next logical target, while on-chain metrics such as declining exchange reserves suggest selling pressure is easing.
