ETH Rallies 10% While Bitcoin Climbs Back Above $120,000

Ethereum Breaks Higher as ETF Flows and Treasury Demand Fuel Momentum

Ether (ETH) surged 10% on Wednesday to hit its highest level since January, propelled by mounting institutional demand and a wave of inflows into spot exchange-traded funds.

The rally pushed ETH above $3,400, marking a 22% gain over the past week and flipping its year-to-date performance back into positive territory with a 2% increase on the year.

Bitcoin (BTC) also rebounded, rising 2.5% to reclaim the $120,000 level, as dip buyers stepped in across the board. According to Glassnode, investors bought roughly 196,600 BTC between $116,000 and $118,000 — a $23 billion vote of confidence.

ETH’s momentum has been bolstered by accelerating ETF activity. U.S.-listed ETH spot funds saw $900 million in inflows last week, representing nearly 29% of total inflows for 2025. So far this week, another $450 million has entered the space, setting the stage for inflows to potentially top $1 billion, said Anagram’s David Shuttleworth.

Institutional adoption is spreading beyond ETFs. Sharplink Gaming (SBET) revealed it acquired over 74,000 ETH and still holds $257 million earmarked for more purchases. Bitmine Immersion Technologies (BMNR) also added over $500 million in ETH to its corporate balance sheet.

With macro flows turning supportive and ETH leading the charge, the altcoin rally appears to be gaining serious traction alongside a stabilizing bitcoin.