The second-largest cryptocurrency by market capitalization has continued its steady ascent, appreciating by 3.68% over the past day, according to CoinMarketCap.
The price is nearing the psychological threshold of $4000. Ethereum last traded at such high levels in mid-December of the previous year.
At the time of writing, the asset is trading around $3930, marking a ~62% increase since the beginning of the year.
ETF Hype
Alongside Bitcoin, Ethereum is attracting institutional investors. From July 21 to 25, the net inflow into spot Ethereum ETFs reached $1.85 billion, the second-largest weekly figure since the products were launched in July 2024.
A positive trend has been observed for 16 consecutive days:
The cumulative net inflow into investment products has reached $9.33 billion. The total assets under management by ETF providers have exceeded $20.66 billion, accounting for 4.64% of Ethereum’s market capitalization.
Corporate Demand
The volume of cryptocurrency held on the balance sheets of public companies has reached 2.32 million ETH (~$9.11 billion at current rates), representing 1.92% of the total Ethereum supply.
Bitmine Immersion Tech, associated with the well-known researcher Fundstrat Tom Lee, follows the most aggressive strategy. The company holds approximately 566,800 ETH, valued at $2.23 billion (over the past 30 days, the volume of “digital reserves” has increased by 247%).
In second place is SharpLink Gaming, supported by Ethereum co-founder Joseph Lubin.
According to Arkham, on the evening of July 27, the firm acquired 77,210 ETH; the volume of reserves reached 428,017 ETH (~$1.67 billion).
SharpLink(@SharpLinkGaming) bought another 77,210 $ETH($295M) and currently holds 438,017 $ETH($1.69B).https://t.co/143CVq5E6U pic.twitter.com/Oa4dQ9XFGF
— Lookonchain (@lookonchain) July 28, 2025
Recently, the co-CEO of SharpLink became former BlackRock executive Joseph Chalom.
Experts at Santiment pointed out a warning signal for Ethereum—a surge in mentions of the cryptocurrency on social media. The indicator reached a level of “extreme euphoria,” signaling a risk of correction.