Ether Races Past $3,400 As US Spot ETH ETFs Pull In Record Daily Inflow Of $726 Million
2025-07-17 16:48:36
Main Idea
Ethereum's price surged past $3,400 as US spot ETH ETFs attracted significant inflows, with institutional demand and corporate investments driving the rally.
Key Points
1. Ethereum reached a five-month high of $3,470, with 24-hour gains exceeding 8% and a 32% rally over the past 14 days.
2. US spot ETH ETFs saw record inflows of $726.74 million on Wednesday, led by BlackRock’s ETHA with $500 million and Fidelity’s FETH with $113 million.
3. ETH ETFs have drawn total net inflows of $2.27 billion this month, collectively holding over 5 million ETH (4% of supply).
4. SharpLink Gaming, founded by Ethereum co-founder Joseph Lubin, became the largest corporate holder of ETH with 280,706 ETH, surpassing the Ethereum Foundation.
5. Peter Thiel’s Founders Fund acquired a 9.1% stake in BitMine Immersion Technologies, a crypto mining company holding around $500 million worth of ETH.
Description
On Wednesday, Ethereum reached a five-month high of $3,470. The asset has since slightly dipped to $3,466 but remains elevated, with 24-hour gains exceeding 8%, according to crypto data sourced by ZyCrypto. ETH has witnessed an impressive 32% rally in the past 14 days. Although Bitcoin has recently smashed fresh all-time highs, ETH remains far
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