Crypto
Ethereum Surges 5% on Robust Demand for Spot ETFs and Record On-Chain Staking
Ethereum's price surged by almost 5% after strong demand for spot ETFs and record on-chain staking activity.
The influx of $1.85 billion into Ethereum-based spot exchange-traded funds (ETFs) in August, followed by a brief outflow before renewed interest brought an additional $141.4 million back into ETFs, contributed to the price increase.
On-chain staking also reached new heights, with over 42 million ETH now locked up in validator contracts, representing the largest monthly increase since February 2024.