Ethereum is drawing renewed attention from heavyweights in the crypto and finance world, with whale activity and institutional bets pushing the asset toward the $4,000 mark — its highest level since 2024.
Blockchain data reveals a sudden influx of large-scale ETH acquisitions. Two fresh wallets, likely linked to institutions, scooped up over 58,000 ETH (worth $212 million) via Galaxy Digital and FalconX. A separate whale also moved in with a $50 million buy from Binance, according to on-chain analyst EmberCN.
Corporate players aren’t sitting out either. SharpLink, now the top corporate holder of Ethereum, has ramped up its accumulation strategy. In the past day alone, the firm added nearly 5,000 ETH, bringing its July total to over 157,000 ETH — valued at nearly half a billion dollars.
Meanwhile, inflows into Ethereum spot ETFs have reached record levels. Over the past week, these funds pulled in $2.2 billion, doubling the previous week’s intake and marking four of the five highest daily inflows since launch. ETF analyst Nate Geraci described the surge as a major vote of confidence.
This wave of capital is driven by more than just price speculation. Ethereum’s role in powering stablecoins, DeFi, and tokenization continues to make it attractive to institutions, including the likes of BlackRock.
Arthur Hayes, former BitMEX CEO and current Maelstrom CIO, has predicted that ETH could soon break past $4,000 and potentially challenge $10,000 before the end of the year. At press time, ETH is holding near $3,710 with a market cap exceeding $450 billion — making it one of the top 25 assets globally.
