- Ethereum (ETH) surged past $3,000 for the first time in five months, gaining nearly 9% in 24 hours.
- BlackRock’s ETHA ETF posted record daily inflows of $300.9 million, leading a $383.1 million day for U.S. spot ETH ETFs.
- SharpLink Gaming purchased 10,000 ETH from the Ethereum Foundation, boosting its treasury to over $550 million.
Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, has reclaimed the $3,000 mark for the first time in five months, buoyed by bullish momentum across the broader crypto market.
The token is currently trading at $3,055, up nearly 8% in the past 24 hours.
ETH last traded above $3,000 on February 2, before undergoing a sharp correction that saw it fall to as low as $1,387 in April.
That decline followed heightened market uncertainty surrounding former President Donald Trump’s “Liberation Day” tariff announcement.
While Ethereum’s recovery has been notable, it still trails Bitcoin’s (BTC) performance and remains about 38% below its all-time high of $4,878 set in November 2021.
In contrast, BTC recently reached new record highs, helping to lift the entire cryptocurrency sector.
Record inflows into Ethereum ETFs
A major driver behind ETH’s recent surge is renewed institutional interest, particularly via spot Ethereum exchange-traded funds (ETFs).
BlackRock’s iShares Ethereum ETF (ETHA) saw a record-breaking $300.9 million in net daily inflows on Thursday as ETH neared the $3,000 threshold.
That marked the fund’s strongest day since its launch and pushed its five-day inflow total to $623.4 million.
The previous record stood at $292.7 million on December 5, 2024.
Overall, US-listed spot Ethereum ETFs brought in a combined $383.1 million in net inflows on Thursday.
Fidelity’s FETH added $37.3 million, followed by Grayscale’s ETH and ETHE with $20.7 million and $18.9 million, respectively.
Bitwise’s ETHW and VanEck’s ETHV recorded $3.2 million and $2.1 million in inflows.
“We have a new daily inflow record for iShares Ethereum ETF… $300+mil,” noted Nate Geraci, president of NovaDius Wealth Management, on X (formerly Twitter).
Bloomberg Senior ETF analyst Eric Balchunas also highlighted that ETHA had logged record daily trading volumes of over $800 million on both Wednesday and Thursday, forecasting “chunky” inflow data, which the latest figures confirmed.
SharpLink deepens ETH treasury with foundation purchase
Further supporting Ethereum’s bullish backdrop, Nasdaq-listed SharpLink Gaming (SBET) disclosed a significant over-the-counter ETH acquisition from the Ethereum Foundation.
The Minneapolis-based firm purchased 10,000 ETH for $25.7 million, executed at a price of $2,572.37 per coin on July 10.
This brings SharpLink’s ETH holdings to approximately 215,634 coins, valued at around $558 million at current market prices.
The transaction positions SharpLink as the second-largest corporate holder of ether, with the company signaling ongoing support for the Ethereum ecosystem.
“SharpLink is acquiring, staking, and restaking ETH as responsible industry stewards,” said Chairman and Ethereum co-founder Joseph Lubin, emphasizing the firm’s efforts to remove supply from circulation and strengthen the network’s decentralization.
SharpLink began shifting its balance sheet toward ether in early June, financing the initiative through at-the-market share sales.
The company raised up to $425 million in a private placement led by Consensys, Lubin’s crypto infrastructure firm.
While the Ethereum Foundation has previously sold ETH from its treasury, direct transactions with publicly listed companies are rare, making this deal a notable development in institutional crypto adoption.
