Ethereum News Today: Ethereum Surges 4.81% as BlackRock Buys 547 Million Worth of ETH

Ethereum (ETH), the largest altcoin, has experienced a significant surge in buying interest from U.S. institutions. Recent data reveals that BlackRock has acquired more ETH than Bitcoin, and a new premium has emerged on Coinbase, indicating a potential move towards the $4,000 mark for Ethereum.

A fresh premium on Ethereum prices has been observed on Coinbase, a platform widely used by U.S. investors. This price gap, which has not been seen in some time, suggests rising demand from large buyers in the U.S. According to data shared by CryptoQuant, this premium is likely due to increased buying by institutional players. Additionally, daily inflows into Ethereum spot ETFs have reached a record high, showing that U.S.-based investors are actively adding ETH to their portfolios. The rise in demand coincides with the broader digital asset market remaining relatively stable, with analysts noting that the market is not exhibiting signs of overheating. This suggests that Ethereum may continue to rise after experiencing some short-term sideways trading. There is also interest in how the second half of the year plays out. If strong buying continues, it may raise questions about whether the market is overheating. For now, however, current trends suggest that Ethereum is gaining steady support from major investors.

Asset manager BlackRock has been purchasing substantial amounts of Ethereum. Data from blockchain analytics firm Arkham showed that the company bought over $547 Million worth of ETH, which is $50 Million more than its recent Bitcoin purchases of $497 Million. When comparing the two by market size, the numbers suggest BlackRock is buying more than five times the amount of ETH relative to BTC. A chart shared by Arkham displayed a web of wallet activity linked to these transactions, showing where the funds are moving to.

In another development, Nasdaq filed a request with the U.S. Securities and Exchange Commission to update the iShares Ethereum Trust. The update would allow ETH held in the fund to be staked. If approved, the fund could earn rewards by staking Ethereum and then share those rewards with investors. The filing named Coinbase as the expected staking provider. A final decision from the SEC is due by April 2026. However, approval could come as early as late 2025, according to the analyst's forecast.

As of the writing of this publication, ETH’s price stood at $3,594, with a 4.81% gain in the last 24 hours. It remains the second-largest cryptocurrency by market value, with a cap of $436.91 Billion. These numbers reflect a strong interest in ETH from traders and investors in the short term. With institutional demand on the rise and new ETF features in the works, Ethereum is gaining momentum. On a broader outlook, Arthur Hayes predicted that Ethereum (ETH) could rally to a new all-time high of $10,000 this year. Whether it breaks past $4,000 depends on how long this buying trend wave continues. However, the signs so far suggest that the ETH price is being backed by a very bullish fundamental.