Ether Jumps 10% as Institutional Demand Reignites Bullish Momentum; Bitcoin Reclaims $120K
Ethereum (ETH) surged 10% on Wednesday, lifting it to year-to-date highs as institutional flows into ETFs and treasury portfolios gave the crypto market fresh upward momentum.
The move pushed ETH past $3,400, flipping its 2025 performance into the green with a 2% gain on the year. It has now rallied more than 22% over the past seven days.
Bitcoin (BTC) also climbed 2.5% to reclaim the $120,000 mark, with on-chain data showing heavy accumulation near recent lows. According to Glassnode, buyers scooped up approximately 196,600 BTC between $116,000 and $118,000, totaling over $23 billion in value.
ETH’s rally is being driven by both ETF inflows and rising corporate treasury demand. Last week, U.S. spot Ethereum ETFs brought in $900 million — nearly 29% of all crypto ETF inflows for the year. So far this week, another $450 million has been added, and analysts expect the figure to top $1 billion before week’s end, said Anagram’s David Shuttleworth.
Meanwhile, public companies continue to rotate ETH onto their balance sheets. Sharplink Gaming (SBET) disclosed a 74,000 ETH purchase, and Bitmine Immersion Technologies (BMNR) followed suit with a $500 million acquisition.
With both macro flows and altcoin sentiment improving, ETH appears to be leading the charge in a broad-based crypto rally — one that’s finally seeing Bitcoin and the rest of the market reengage to the upside.
