Ethereum Rockets 18% Higher as BlackRock Fuel Record-Breaking ETF Inflows
Ethereum (ETH) experienced a significant price surge, increasing by over 18% within a 24-hour period and reaching an intraday peak of $2,318.66.
This dramatic price action was driven by a combination of factors, including large holder accumulation, institutional ETF demand, and a technical breakout from a prolonged consolidation phase.
The record-breaking influx into U.S. spot Ethereum ETFs on August 19 marked a pivotal moment, with $189.15 million in net inflows, the strongest single-day performance in nearly a year.
BlackRock's ETHA product dominated the inflow activity, capturing $122.12 million and representing approximately 58,240 ETH, while Fidelity's FETH brought in $36.54 million and Grayscale's Ethereum ETF added an additional $16.04 million.