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- Ethereum spot ETFs saw a record $729 million inflow on Wednesday, pushing total assets past $29.7 billion.
- Decentralized exchange volume hit $6.15 billion in 24 hours, solidifying Ethereum’s lead over rival chains.
Ethereum traded at $4,702 on Thursday, standing just under its all-time high of $4,865. The price has jumped by more than 240% since April’s low, fueled by accelerating institutional inflows, rising treasury demand, and stronger decentralized exchange activity.
Spot ETH ETFs and Corporate Buys Drive Rally
Spot ETH exchange-traded funds have played a central role in this rally. Data from SoSoValue shows that these funds have attracted inflows for five straight months, adding $729 million on Wednesday alone. The total inflows since launch now stand at $12 billion. A day earlier, they brought in $523 million, following $1 billion on Monday.
The largest among them, iShares Ethereum Trust (ETHA), holds more than $15 billion. Grayscale’s ETHE has $5.3 billion, and Fidelity’s FETH holds $3.95 billion. Combined, spot ETH ETFs now control over $29.7 billion in assets, representing 5.22% of Ethereum’s market capitalization.
Companies are increasingly adding Ethereum to their treasuries, further lifting demand. Treasury holdings are now worth about $11.77 billion. Tom Lee’s BitMine has close to $4 billion in ETH and is seeking $20 billion to expand its position. ShapLink Gaming owns 598,000 coins valued at $2.8 billion and is also raising capital for more purchases.
Other large holders include The Ether Machine with $1.63 billion in assets and Coinbase with more than $670 million worth of coins. If the trend mirrors Bitcoin’s corporate adoption — which now includes over 100 treasury companies — Ethereum demand could grow even further in the coming months.
DEX Transactions and DeFi Dominance Boost Ethereum Price
Ethereum’s decentralized exchange activity is also surging. Protocols on the network processed $6.15 billion in transactions in the last 24 hours and nearly $120 billion over the past month. This has placed Ethereum ahead of rival chains, with Solana recording $4.30 billion in 24 hours and $113 billion monthly, and BNB Smart Chain at $2.16 billion daily and $63 billion monthly.
The broader decentralized finance market is another driver of the Ethereum rally. Ethereum holds the largest share with a total value locked of $216 billion and a bridged TVL exceeding $550 billion. Leading platforms include Lido with $42 billion, AAVE as the biggest lending protocol, EigenCloud with $22 billion, and EtherFi and Ethena each holding more than $10 billion.
Ethereum dominates the stablecoin sector with $138 billion in assets, reinforcing its central role in crypto transactions and liquidity. Analysts believe this stability, combined with growing institutional interest, is keeping bullish momentum intact.
In an X post, a crypto analyst, TED, predicted that Ethereum could hit $5,000 this week. According to CNF’s recent update, analyst Ali Martinez echoed that view, stating the upward trend might continue until prices reach $5,241.
