Ethereum Surges Above USD 2,600 as ETF Inflows, Short Liquidations Fuel Rally

Ethereum surged above USD 2,600 on Friday, September 11, and reached USD 2,660, its highest level since January, as ETF inflows and short liquidations supported a broader crypto rebound. BlackRock’s Ethereum ETF, ETHA, also extended a 20-session inflow streak without an outflow. The move placed ETH ahead of Bitcoin, Solana and XRP over the previous 24 hours.

ETHA Inflows Continue

Coinotag data showed ETHA attracted USD 251.4 million in net inflows across 20 consecutive trading days. The uninterrupted streak pointed to continued demand for Ethereum-backed investment products.

Meanwhile, Cryptobriefing reported USD 216 million in net inflows to Ethereum ETFs on September 11. Institutional investors shifted capital away from Bitcoin ETFs during the same session.

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Ethereum Leads the Rally 

Ethereum gained more than 8% in 24 hours and touched USD 2,660 on Coinbase. Bitcoin rose about 2.7%, while Solana gained 5.3% and XRP advanced 4.2%. The broader cryptocurrency market increased 1.1% to about USD 2.75 trillion. Ethereum still led the major assets included in the market snapshot.

Bitmine Immersion Technologies also rose alongside ETH. BMNR shares gained more than 9% in morning trade, although Stocktwits sentiment for both ETH and BMNR remained bearish.