Ethereum News Today: Ethereum Surges 12.20% to $3,570 as BlackRock Boosts Holdings by 500%

Ethereum has recently surged past the $3,200 mark, reaching as high as $3,570, which represents a 12.20% gain from its recent low. This bullish momentum follows a strong rebound from the $2,200 support level and a period of consolidation. The next resistance target for Ethereum is between $3,900 and $4,000, a level last tested in mid-2024. Traders are closely monitoring whether this move will see sustained buying pressure.

In a significant development, BlackRock has increased its Ethereum exposure beyond Bitcoin. The firm has accumulated over $547 million worth of ETH, outpacing its $497 million BTC holdings. When adjusted for market capitalization, this indicates Ethereum holdings are five times higher than Bitcoin. Arkham Intelligence data shows consistent ETH wallet flows into BlackRock’s holdings throughout 2024 and into mid-2025. Analysts interpret this as a shift in institutional preference, with Ethereum’s smart contract potential being a key factor in the strategy.

Ethereum futures markets are also heating up. Open interest has surged past $50 billion, its highest since mid-2022. The rise aligns with ETH’s push above the $4,000 level, although it is currently trading at $3,567.42 after a 1.52% dip in the last 24 hours. The yellow line in CoinGlass’s data shows price action closely mirroring open interest, signaling increased market activity and liquidity. Both institutional and retail participants appear to be fueling this rally, supported by growing confidence in Ethereum’s outlook.

At the time of writing, Ethereum remains under the $3,600 level. Traders are now watching for sustained volume to confirm the breakout and assess whether Ethereum can reclaim and hold above the $4,000 mark in the coming sessions. The surge in Ethereum's price and the increased institutional interest from BlackRock indicate a growing bullish sentiment towards the cryptocurrency. This shift in institutional preference towards Ethereum over Bitcoin could have significant implications for the broader cryptocurrency market, as more investors may follow suit and allocate more capital to Ethereum.