ETH Hits Six-Month High as Institutional Demand and ETF Inflows Drive Rally

Ethereum’s ether (ETH) surged to a six-month peak on Wednesday, fueled by growing institutional interest, strong ETF inflows, and rising adoption of corporate treasury strategies centered around ETH.

ETH broke decisively above the $3,400 mark — its highest level since January — after gaining 10% in the past 24 hours, according to CoinDesk data. The second-largest crypto is now up 22% on the week and has flipped positive for the year, posting a 2% year-to-date gain.

Bitcoin (BTC) also recovered ground, climbing 2.5% during U.S. trading hours to reclaim the $120,000 level. The CoinDesk 20 Index, which tracks major crypto assets, advanced 4.5% on the day.

Glassnode reported that BTC investors aggressively bought the recent dip from all-time highs, with roughly 196,600 BTC (worth $23 billion) scooped up between $116,000 and $118,000.

Meanwhile, ether is seeing sustained demand from institutional vehicles and corporate treasuries.

Spot ETH exchange-traded funds listed in the U.S. recorded over $900 million in inflows last week — making up nearly 29% of total 2025 inflows so far, according to David Shuttleworth of Anagram. With $450 million flowing in already this week, total weekly inflows could surpass $1 billion.

The surge in ETH exposure is also being led by companies. Sharplink Gaming (SBET) disclosed this week that it acquired over 74,000 ETH and still holds $257 million in capital for additional purchases. Separately, Bitmine Immersion Technologies (BMNR) added more than $500 million worth of ETH to its holdings.