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Ethereum Tops $3,600 as ETF Inflows, Corporate Treasuries Drive Market

Record spot ether ETF inflows tighten supply as the crypto market cap breaches $4 trillion following U.S. House approval of stablecoin frameworks

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Souvenir tokens representing cryptocurrency Bitcoin and the Ethereum network, with its native token ether, plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Sparks strike representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

Overview

  • Ethereum climbed to a five-month high above $3,600, propelled by spot ether ETFs logging $602 million in net inflows on Thursday and a single-day record of $726.7 million a day earlier.
  • SharpLink Gaming has amassed 280,000 ETH (about $884 million) while BitMine Immersion Technologies holds over 300,000 ETH, marking a growing trend of public companies treating ethereum as a treasury asset.
  • Ethereum supply on centralized exchanges has declined roughly 34% year-to-date to 7.22 million ETH, and approximately 29% of the total supply is now staked, reducing circulating availability.
  • The U.S. House passed the GENIUS Act along with companion crypto oversight bills, creating the first federal framework for stablecoins and sending the measures to President Trump’s desk.
  • Total cryptocurrency market capitalization topped $4 trillion, driven by bitcoin’s $2.4 trillion and ethereum’s $440 billion valuations, underscoring surging institutional demand.