Ethereum Price Surges as ETHB ETF Inflows Soar

Ethereum's price has been in a consolidation phase and is currently trading at $2,458. This represents an increase of over 63% from its lowest level this year.

The recent Ethereum price rally can be attributed to the surge in ETF inflows, particularly in the iShares Staked Ethereum Trust (ETHB). The fund has accumulated over $980 million in assets since its launch in March and has become the fifth-biggest ETH fund.

Another key driver behind the ongoing ETH ETF inflows is BlackRock's staking capabilities. By staking its assets, investors can generate an annual return that compensates for the 0.25% fee. Currently, staked ETH tokens earn an annual return of about 2.65%

Technically, Ethereum's price has formed a bullish flag pattern, which suggests a strong breakout in the near term. Additionally, the spread between the 50 and 200-day moving averages is narrowing, indicating that a golden cross may form soon.