Ethereum Surges Above $2,500 on Record US ETF Inflows

Ethereum's price held steady above $2,500 this week following significant inflows into US-based spot Ethereum exchange-traded funds (ETFs) and growth in the stablecoin sector.

The asset saw a notable surge after the US Treasury announced plans to increase long-dated bond buyback operations from $2 billion to at least $4 billion per transaction starting September 9. This move was interpreted as a potential boost for liquidity-driven assets like cryptocurrencies, leading to a rally in Ethereum and other digital currencies.

The growth of Ethereum ETFs saw a record net inflow of $697.2 million for the week ending August 21, with combined flows into both Bitcoin and Ethereum products reaching $2.6 billion over the period.