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Ethereum, the second-largest crypto by market capitalization, has surged past the $4,000 mark, a level it last reached in March 2024, driven by strong demand for Ethereum ETFs.
This rally represents a 65% increase in Ethereum’s price over the past month, following Donald Trump’s win as the 47th President of the US, and marks a sharp recovery after months of underperformance compared to Bitcoin.
Institutional interest in Ethereum has been a key driver of this surge. Ethereum ETFs saw a record daily inflow of $428 million on Thursday.
In the past seven days, Ethereum ETFs have accumulated over $1 billion in inflows, with $788 million coming from BlackRock alone, according to Farside Investors data.
This wave of investment has propelled Ethereum’s market value to over $485 billion.
The price movement triggered significant market activity, with $8 million in liquidations in a single hour and $11 million over four hours, CoinGlass data shows.
This price action reflects the market’s optimism following Trump’s appointments this week of Paul Atkins as the new SEC Chair and David Sacks as the crypto czar, both known as pro-crypto advocates.
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