Ethereum Price Rises 30% in 30 Days Amid Institutional Buying

Ethereum's price has seen a significant surge in recent days, hitting $2,453.78 as of Monday morning ET.

This marks a 30% increase over the past 30 days and puts Ethereum 50.4% below its all-time high of $4,946.05 set last year.

The price rise is largely driven by institutional buying, with BlackRock's iShares Ethereum Trust (ETHA) attracting $1.02 billion in net inflows across nine consecutive trading sessions from August 17 to August 27.

However, analysis suggests that this buying is not necessarily conviction accumulation at a bottom, but rather client allocation into the product executed mechanically as subscriptions arrive.