Ethereum Posts Best Month Since 2022 as ETF Inflows, Treasury Demand Drive Surge
Ethereum’s native token, ether (ETH), logged a remarkable July, jumping more than 50% to mark its strongest monthly gain in three years. Prices peaked at $3,940 before cooling to just under $3,800.
The last time ETH saw similar momentum was in July 2022, rebounding from the aftermath of high-profile collapses such as Terra, Celsius, and Three Arrows Capital. This time, however, the rally is being fueled by institutional capital rather than a broader market recovery.
Spot ether exchange-traded funds (ETFs) in the U.S. attracted $5.4 billion in net inflows over the month, their most significant intake since launching last year, according to SoSoValue. At the same time, public companies have added $6.2 billion worth of ETH to their corporate treasuries, data from CEX.io reveals. Standout participants include Bitmine, SharpLink, ETHZilla, and Ether Machine.
Ethereum’s strengthening role as the foundation of tokenized finance is a key driver. With more than half of the $250 billion stablecoin market built on Ethereum, the network stands to benefit from regulatory clarity under the new Genius Act, which establishes rules for U.S. dollar-pegged digital assets.
Despite the strong momentum, ETH faces stiff resistance around the $4,000 mark — a level that repeatedly capped gains last year. With August historically a quieter month for crypto markets, analysts are watching for a potential cooling period.
Still, some market participants remain optimistic. Crypto investor Bob Loukas noted in a recent post that ETH could have room to climb as high as $4,700 during this run.
