The demand for Ethereum (ETH) has surged in recent times, especially among Wall Street corporations. Long-term investors have shown a strong preference for Ether, as evidenced by the on-chain data analysis. This renewed demand has propelled Ethereum to new heights, surpassing Bitcoin (BTC) in net cash inflows.
One notable example is the U.S. spot Ether ETFs, led by BlackRock’s ETHA, which recently recorded the highest weekly cash inflow of approximately $908 million since their inception. This has extended their multi-week streak of cash inflows, with over $2.7 billion in net cash inflows over the past four months.
Corporations have also shown a significant interest in Ether, with companies like BitMine announcing that their Ether holdings have exceeded $500 million. Following a $250 million private placement, BitMine increased its ETH holdings to 163,142 coins, showcasing the growing interest in Ethereum among institutional investors.
“We are pleased to have significantly increased our ETH treasury just three days after closing our private placement,” noted Jonathan Bates, CEO of BitMine. “It’s clear that Wall Street is becoming more interested in ETH.”
In terms of price targets, Ethereum recently broke out above $3,000 for the first time since January 2025 after consolidating in a choppy manner for the past two months. With a fully diluted valuation of around $363 billion, Ethereum has signaled bullish sentiment and is aiming for $3,400 next, with a clear pathway towards $4,000.
Technical analysis indicates that the weekly MACD indicator has turned bullish, with the MACD line crossing above the zero line and bullish histograms increasing. This suggests a positive outlook for Ethereum’s price movement in the near future.
Overall, the growing demand for Ethereum among long-term investors and corporations, coupled with the bullish price action and technical indicators, point towards a bright future for the second-largest cryptocurrency by market capitalization. Investors and traders are closely watching Ethereum’s performance as it continues to attract attention and investment from various sectors.