Ethereum ETFs Just Had Their Best Day Since February

The surge didn’t happen in a vacuum. Ethereum broke above $2,800 for the first time since February, and a rare alignment of regulatory, market, and technological narratives is starting to tilt the odds in ETH’s favor again. For traders wondering if now is the right time to buy Ethereum, there are several reasons why the answer might be yes. 

Firstly, while Bitcoin is just 1% away from setting new all time highs, Ethereum has a massive 45% run up before it can do the same. That means if Bitcoin can hold strong, ETH has a huge window to post some spectacular gains. And when ETH does finally run hard, that means the long-awaited altseason is likely to follow. Still, lets be patient, phase one is for Ethereum to continue to gain against Bitcoin.

BlackRock Leads the Charge  

According to BNC data, BlackRock’s iShares Ethereum Trust ETF (ETHA) led the charge with a dominant $80.6 million of those inflows. The entire class of U.S.-based spot ETH ETFs has now soaked up $745 million over the last 11 trading days. That’s not a melt-up—yet—but it’s the kind of steady accumulation that suggests institutional confidence is quietly coming back online.

BlackRock bought 80.6 million in ETH on Tuesday, Source: X

Compare that to February 2nd—the last time things got this frothy—when $276 million poured into ETHA in a single day and Ethereum was flirting with $2,900. We’re not back to those levels, but ETH trading around $2,814 (up 1.25% in 24 hours per BNC) shows real momentum. For a digital asset that’s spent months lagging behind Bitcoin’s all-time highs, this is a notable reversal of fortune.

ETH is up 1.25% overnight, source: BNC Ethereum Liquid Index

What’s Behind the Surge?

Part of the answer lies in regulatory tea leaves. On Monday, SEC Commissioner Paul Atkins made unusually bullish comments during a DeFi roundtable, teasing out the idea of “innovation relief” for projects operating in decentralized finance. It’s classic bureaucratic speak, but read between the lines and you get this: the SEC might be preparing to soften its war stance on DeFi and Ethereum-adjacent protocols. In crypto, perception often precedes policy, and that was enough to move markets.

Ethereum governance tokens like Uniswap, Aave, and Sky responded immediately. Prices jumped 23%, 16%, and 15% respectively. Ethereum, meanwhile, briefly touched $2,700 during the news cycle and kept climbing—proof that confidence is broadening beyond Bitcoin.

Even Ethereum’s perennial complexity isn’t scaring off buyers. Last week, Vitalik Buterin threw his weight behind a tenfold scalability upgrade to Ethereum’s base layer—not just layer-2 rollups. His argument? The main chain can and should evolve, and fast. It’s a subtle but powerful narrative shift: Ethereum isn’t giving up on its core. It’s doubling down. Plus Ethereum’s recent Pectra upgrade was a big success, and a bigger deal than the merge.

That context helps explain why this ETF inflow spike actually matters. As Valentin Fournier at BRN put it, “The uptick is notable due to Ethereum’s smaller institutional base. This signals renewed confidence in the crypto rally, especially among large players.”

Since their debut last July, U.S.-listed Ethereum ETFs have pulled in about $3.5 billion in net inflows. That’s still dwarfed by Bitcoin’s numbers, but it’s no longer a sideshow. And as Ethereum builds momentum—on-chain and off—the smart money seems to be rotating back in.

Investors take note. Ethereum is heating up. Institutional appetite is returning. And with both regulatory tone and technical roadmap turning favorable, the next leg up may already be underway.