Ethereum News Today: Ethereum Surges 100% as Institutional Buying Boosts ETF Inflows

An analyst from BiyaPay has noted a significant shift in the cryptocurrency market, with funds moving from Bitcoin to Ethereum. This trend is evident as the Ethereum spot ETF has experienced continuous net inflows for 16 consecutive days, indicating strong institutional buying pressure. Additionally, on-chain staking lockups have reached nearly 29% of the circulating supply, contributing to a brief surge in Ethereum's price to $3200, which is double its value since April.

Pre-market, several Ethereum-related stocks have seen substantial gains. For instance, SharpLink Gaming (SBET) made a monthly purchase of over $600 million worth of ETH, leading to a doubling of its stock price. Other companies, such as BitMine (BMNR) and BTCS, have also adopted a "hodl" strategy, holding onto their Ethereum investments. According to incomplete statistics, 13 major institutional investors hold a significant amount of Ethereum, with 6 of these being US-listed companies. These companies include SharpLink Gaming (SBET), BitMine Immersion Technologies (BMNR), Coinbase Global (COIN), Bit Digital (BTBT), BTCS Inc. (BTCS), and Ethereum Name Service (ENS). Their strategies span various sectors within the Ethereum ecosystem, including DeFi, mining, domain protocols, and on-chain staking.

The strong rise in Ethereum can be attributed to several factors, including on-chain deflation, ETF net inflows, expectations of macro interest rate cuts, favorable regulations, short covering, and the recovery of the Ethereum ecosystem. Several technical indicators also suggest that Ethereum may have initiated a new uptrend.

The analyst from BiyaPay recommends that investors looking to capitalize on "Ethereum beneficiary stocks" in the US stock market consider using BiyaPay's platform. BiyaPay supports USDT trading of US and Hong Kong stocks, eliminating the need for an offshore account and allowing for real-time global investment participation. Additionally, the platform supports over 200 types of spot contracts for digital assets with zero transaction fees, enabling low-cost and high-efficiency market entry and exit.