Ethereum ETF Inflows Hit Record High as Price Jumps Past $3,400

Ethereum saw an explosive surge in institutional demand this week, with spot exchange-traded funds (ETFs) posting their highest single-day inflow on record. O 

On July 16, net inflows into U.S.-listed spot ETH ETFs reached $726.74 million, according to SoSoValue, pushing total ETF-held Ethereum reserves to an all-time high of 4.95 million ETH.

BlackRock’s Ethereum ETF (ETHA) led the charge, drawing in $499 million in a single day. The move marks a major milestone in ETH’s institutional adoption and mirrors Bitcoin’s pattern during the run-up to its own spot ETF launch earlier this year.

Price rallies past $3,400 on momentum and short squeeze

Buoyed by record ETF flows and strong technical signals, ETH surged 7.9% in 24 hours to $3,424. A break above the $3,300 resistance triggered algorithmic buying, while a looming short squeeze added further upside pressure. According to data, a $62 million whale short position faces liquidation at $3,505, which could further fuel volatility if breached.

At the time of writing, Ethereum was trading at $3,400 — its highest level in recent weeks. The rally has added more than 8% to its value in just 24 hours, driven by institutional buying and rising investor confidence.

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ETF holdings rival major crypto treasuries

Ethereum ETFs now collectively manage $13.22 billion in assets — a 22% increase over the past 30 days. One notable example is SharpLink Gaming, which disclosed holdings of 280,600 ETH worth roughly $963 million, overtaking even the Ethereum Foundation’s known reserves. Analysts say this growing ETF accumulation could serve as a long-term catalyst for ETH, similar to what spot ETFs have done for Bitcoin.

With institutional interest accelerating and price momentum building, Ethereum’s bullish breakout may only be getting started.