Ethereum price news: ETH surges 10% outpacing bitcoin gains as ETF demand, Bitmine buying accelerate
Ether surged over 10% to a six-week high, outpacing Bitcoin, driven by strong ETF inflows and significant corporate buying from BitMine.Summary
Ethereum's native token, ETH, experienced a significant rally, climbing over 10% to surpass $2,300 and reach a six-week high, significantly outperforming Bitcoin's 3% gain. This rebound follows a period of steep declines for ETH. Key drivers include strong institutional demand, with U.S. spot ether ETFs pulling in over $160 million last week, and the launch of BlackRock's yield-paying Ethereum staking ETF. Furthermore, BitMine (BMNR), a major corporate holder, purchased nearly 122,000 ETH (worth over $280 million) in the past two weeks. Analysts suggest this performance indicates a potential rotation of investor funds from Bitcoin into Ethereum, signaling broadening risk appetite across the crypto market, though the rally remains sensitive to macroeconomic signals like Federal Reserve policy.
(Source：CoinDesk)