Ethereum Price Surges Past $3000 Amid Record ETF Inflows from BlackRock

Against the backdrop of Bitcoin reaching new highs, the price of the second largest cryptocurrency has, for the first time since early February, surpassed the $3,000 mark.

As of the time this was written, the price is just below this «round» level. In the last 24 hours, the asset has increased by 7.5%, with its market capitalization hitting $360 billion, according to CoinGecko.

The chart above illustrates that on April 9, amidst global panic sparked by Donald Trump’s «liberation tariffs,» the price of Ethereum hit a local low of $1,385. Since that point, the cryptocurrency has seen an increase of 115%.

In the past day, the inflow into Ethereum ETFs amounted to $383 million, with the majority of that—$300 million—coming from the ETHA fund managed by the financial giant BlackRock.

Since their launch, cumulative inflows into these financial instruments have exceeded $5 billion. The total assets under management by ETF providers have reached $12.5 billion, which represents 3.67% of Ethereum’s market capitalization.

The chart below indicates that the inflow of funds into exchange-traded funds has continued for five consecutive days, with a noticeable rise in volumes recorded the day before.

The previous record for net inflows into ETHA was set on December 5, standing at $292.7 million.

Nate Geraci, the head of NovaDius Wealth Management (formerly The ETF Store), noted that the combined inflow of $383 million is the second-largest figure since the launch of spot Ethereum ETFs in July 2024.

The record for total inflow of $428.5 million was also recorded on December 5.

SharpLink Gaming (SBET) has continued to increase its Ethereum holdings, acquiring an additional 10,000 ETH directly from the Ethereum Foundation.

The total cost of this purchase was $25.7 million, with the acquisition price at $2,572.

Based in Minneapolis, SharpLink Gaming collaborates with online bookmakers and casinos through partnership programs and various marketing initiatives.

In early June, the firm drastically changed its strategy and began actively accumulating ETH following a $425 million private placement led by Consensys. Around the same time, Ethereum co-founder Joseph Lubin took over as the chairman of the company.

It is worth recalling that the Ethereum Foundation announced plans for full integration of zero-knowledge proof technology into the main network.