Ethereum Price Jumps 27% as ETF Demand Revives $4,000-$5,000 Targets

The Ethereum price has surged by 27% in five days due to renewed demand for ETFs, pushing ETH above Citi's target and reviving Standard Chartered's $4,000 call.

Ethereum's latest rally has done more than lift the price back above $2,000; it has also weakened one of the main arguments behind the more cautious institutional forecasts published earlier this summer.

The Ethereum to US Dollar (ETH/USD) price traded around $2,388 on Sunday morning after reaching $2,542 during the latest advance. Despite a 1.5% pullback on the day, ETH remained 27.4% higher over five sessions and around 27% stronger over the past month.

Citi reduced its assumption for net crypto ETF inflows to zero in July, but US-listed spot Ethereum ETFs attracted about $189 million on August 19th and another $221 million on August 20th, their strongest daily inflows in roughly ten months.