Ethereum News Today: Ethereum Surges 70% as BlackRock Boosts ETF Holdings

Ethereum has once again captured the attention of the financial world as inflows surge and BlackRock significantly increases its ETF holdings. This surge in interest from institutional investors suggests a growing confidence in Ethereum's potential, with some speculating that this could be the start of a significant breakout phase.

Ethereum's recent rally, which saw a 70% increase in value over a month, was driven by a short squeeze. Institutional players, who had taken record high net short positions on ETH by early July, began to unwind these positions as the price started to rise. This triggered a cascade of liquidations, further fueling the rally. The surge in ETH's price added over $150 billion to its market cap, highlighting the cryptocurrency's growing influence in the market.

BlackRock, one of the world's largest asset managers, has been quietly accumulating ETH through its Ethereum ETF. The firm has been buying ETH on 29 of the last 30 trading days, indicating a strong belief in the cryptocurrency's growth potential. This move by BlackRock, along with similar actions by other institutional players, has contributed to the record high inflows into Ethereum. World Liberty Financial, a firm linked to Donald Trump, also scooped up $5 million in ETH just before the price spike, further amplifying the momentum.

With ETF demand rising daily and inflows reaching record highs, Ethereum's fundamentals appear stronger than ever. While the market is watching for the next correction, some analysts believe this could be the start of a longer breakout phase, especially with institutional money flowing in at an unprecedented rate. The renewed confidence from big players suggests that Ethereum's potential in 2025 is being taken seriously by the smart money.