Ethereum is closing in on its 2021 record price, driven by surging institutional demand and unprecedented inflows into U.S. spot Ethereum ETFs.
On Wednesday alone, these funds attracted $729.1 million — the second-largest single-day haul since launch — with BlackRock’s ETHA pulling in $500.9 million and Fidelity’s FETH adding $154.7 million. Over the past six days, ETF inflows have topped $2.3 billion, pushing ETH above $4,900.
Standard Chartered has sharply upgraded its year-end forecast for Ethereum from $4,000 to $7,500, citing the strength of ETF inflows, institutional accumulation, and improving network fundamentals. Since June, ETFs have absorbed 3.9% of ETH’s circulating supply, surpassing even corporate treasury buying rates.
Whale activity is reinforcing the bullish sentiment. One unidentified investor acquired 379,000 ETH worth $1.8 billion in just 10 days, while another re-entered the market with a $70 million buy after previously cashing out.
While some early ICO holders and the Radiant Capital hacker have taken profits, on-chain data points to heavy withdrawals from exchanges — a sign that selling pressure is easing.
With ETH now trading at $4,730, just 2.5% shy of its all-time high, analysts see the combination of shrinking supply, institutional momentum, and whale accumulation as setting the stage for a potential breakout.
