The surge in demand for Ethereum (ETH) has reached unprecedented levels recently, largely driven by Wall Street firms. Data analysis on blockchain transactions reveals that long-term investors have been showing a preference for Ether over Bitcoin (BTC) for over a year now.
One notable example is the U.S. spot Ether ETFs, particularly BlackRock’s ETHA, which experienced a record weekly cash inflow of approximately $908 million, the highest since their launch. This trend has continued for several weeks, with a total of over $2.7 billion in net cash inflows over the past four months.
Corporations have also been aggressively accumulating Ether holdings, as seen with BitMine, a publicly traded company that recently announced its Ether reserves surpassing $500 million. Following a $250 million private placement, BitMine increased its ETH holdings to 163,142 coins.
BitMine’s CEO, Jonathan Bates, expressed satisfaction with the rapid expansion of their ETH treasury, highlighting the growing interest in Ethereum among Wall Street players.
Looking ahead, Ethereum’s price has broken through the $3,000 mark for the first time since January 2025 after a period of consolidation. With a fully diluted valuation of around $363 billion, the altcoin has shown strong bullish signals, indicating a potential move towards $3,400 and possibly $4,000 in the near future.
Technical analysis also suggests a positive outlook, with the weekly MACD indicator reflecting bullish sentiment following a recent crossover above the zero line, accompanied by increasing bullish histograms.
Overall, the demand for Ethereum continues to rise, driven by both institutional investors and corporations, setting the stage for further price appreciation and market growth.
