Ethereum (ETH) Rockets 18% Higher as BlackRock Fuels Record $189M ETF Inflows—$2,500 in Sight?

Ethereum has climbed to $2,375 following an explosive 18% gain over the past day, breaking through multiple resistance zones at $2,000, $2,100, and $2,200 before reaching an intraday peak of $2,318.66.

This dramatic price action stemmed from a combination of large holder accumulation, institutional ETF demand, and a technical breakout from a prolonged consolidation phase.

August 19 marked a pivotal moment for U.S. spot Ethereum ETFs, which logged $189.15 million in net daily inflows—the strongest single-day performance in nearly a year. This institutional buying wave preceded the dramatic 18% price rally.

BlackRock’s ETHA product dominated the inflow activity with $122.12 million, representing approximately 58,240 ETH. The fund’s total net inflows have now surpassed $11.85 billion, with assets under management approaching $6.52 billion.

Fidelity’s FETH captured $36.54 million during the same period, while Grayscale’s Ethereum ETF brought in an additional $16.04 million.

Major Holders Remove ETH From Trading Platforms

Large holder activity intensified throughout the price surge. Address 0x2d59 extracted 30,000 ETH valued at approximately $67.42 million from Binance. This address has accumulated 120,000 ETH—totaling roughly $237.7 million—from Binance during the past three weeks.

Abraxas Capital similarly withdrew 18,000 ETH worth $39.56 million, while a freshly created wallet removed an additional 6,704 ETH valued at about $14 million during the same timeframe.

The total Ethereum held on exchanges has declined by 15% across 11 weeks, dropping from 7.70 million on June 2 to 6.54 million by August 18, based on Santiment analytics.

One major player established a 4x leveraged long position involving 20,000 ETH worth $45.38 million on Hyperliquid, currently holding an unrealized gain of $6.66 million.

Market Observers Weigh In

Trader Michael Van de Poppe highlighted ETH’s performance as a significant market development, with the token touching the 0.033 BTC ratio. He identified potential pullbacks as strategic entry points while ETH advances toward stronger levels relative to Bitcoin.

Social media analyst Ted (@TedPillows) described ETH’s latest price candle as “an absolute monster,” noting that $2,500 represents the next major hurdle. He emphasized that successfully reclaiming that zone would eliminate the possibility of establishing a new low.

The Bull/Bear Power metric registered its strongest yearly reading at approximately 528. Meanwhile, large transaction volume surged from 2,690 to 6,910 within 24 hours—representing nearly a threefold spike.

ETH initially signaled a potential floor on June 6, bouncing from $1,549 and establishing a double bottom formation with the neckline at $1,800 successfully breached. The asset currently trades at $2,375.