A combination of renewed ETF inflows, increased corporate treasury accumulation and a rotation away from Bitcoin into altcoins is driving a rebound in Ethereum, putting the second-largest digital asset back in the spotlight.

Ether is leading Monday’s advance, climbing to a six-week high as investor demand begins to recover after months of heavy losses. The token surged past $2,300, gaining more than 10% over the past 24 hours—well ahead of bitcoin’s roughly 3% rise and broader market gains—highlighting a shift in momentum toward assets beyond BTC.

Despite the rally, ETH remains more than 50% below its August peak, having at one point fallen nearly 65% during the market downturn. Still, price action has stabilized in recent weeks, with February and March showing early signs of recovery as institutional flows begin to turn positive.

U.S.-listed spot ether ETFs brought in more than $160 million in inflows last week, their strongest weekly showing since mid-January, according to SoSoValue. At the same time, BlackRock introduced its Ethereum staking ETF, ETHB, which has already attracted over $45 million in its first two trading sessions, alongside a $104 million seed investment, based on figures from Farside Investors.

Corporate demand is also playing a key role. BitMine, a major player in Ethereum-focused treasury strategies, has accumulated nearly 122,000 ETH—worth more than $280 million—over the past two weeks. Its shares rose 13.6% on Monday, while Sharplink Gaming advanced over 9%.

Market watchers say the latest move may signal a rotation into ether following bitcoin’s strong performance earlier this year. Joel Kruger said ETH’s relative strength points to shifting dynamics, potentially driven by network developments and more attractive valuations compared to BTC. He also noted that ether has broken above a key trading range against bitcoin that had persisted since late January, suggesting a possible bottom for the ETH/BTC pair.

Adam Saville Brown added that ether’s push back above $2,200 after weeks of underperformance indicates a broadening in market risk appetite, typically viewed as a healthy signal for the wider crypto market.

However, he warned that macroeconomic conditions remain a key variable. A more cautious stance on inflation from Jerome Powell could pressure altcoins, which tend to react more sharply than bitcoin. While downside risks appear to be easing, a sustained breakout higher may require stronger macro support beyond stable interest rates.