Ethereum surged on Tuesday to its highest level since mid-November, outperforming bitcoin and lifting broader crypto markets. Ether climbed to just under $3,400, marking an 8.4% gain over 24 hours, compared with bitcoin’s 4.5% advance and the CoinDesk 20 Index’s 6% rise.
The ETH/BTC ratio, a key measure of ether’s performance relative to bitcoin, reached its strongest point since late October, highlighting rotation from BTC into ETH. Joel Kruger, market strategist at LMAX, cited “improving regulatory expectations and renewed optimism around ETF-related inflows,” with staking soon likely to be added to funds.
A major catalyst was BlackRock’s filing for the iShares Ethereum Staking Trust on Monday, allowing investors to earn yield from staking ETH. Kruger said the move “revives optimism around ETH-focused inflows and yield-bearing crypto products,” even as regulatory timelines remain uncertain.
Ether could also benefit from regulatory support for real-world asset tokenization, bringing financial instruments like bonds, funds, and real estate onto Ethereum smart contract platforms.
