Ethereum Jumps 10% as ETF Inflows and BitMine Buying Drive Rebound

The move outpaced Bitcoin's 3% gain. The rally marks a shift after a long stretch of losses for Ethereum.

Ethereum News

Ethereum climbed more than 10% on Monday to trade above $2,300, its highest price in six weeks. The move outpaced Bitcoin's 3% gain.

The rally marks a shift after a long stretch of losses for Ethereum. At its worst point during the market's winter slide,

had fallen roughly 65% from its August record high. Prices began to stabilize in February and March as institutional flows started to turn supportive.

U.S. spot Ether ETFs

in more than $160 million last week, their strongest weekly inflow since mid-January,

to data from SoSoValue. BlackRock launched a yield-paying Ethereum staking ETF under the ticker ETHB during the same period. The product attracted more than $45 million in its first two trading days, on top of a $104 million seed investment,

to data from Farside Investors.

BitMine Immersion, the largest corporate holder pursuing an Ethereum treasury strategy, purchased approximately 60,999

over the past week. That brings its total holdings to roughly 4.596 million tokens, equivalent to about 3.81% of Ethereum's circulating supply. The position is worth more than $10.4 billion at current prices, and BitMine's combined crypto assets, cash, and venture investments total approximately $11.5 billion.