Ethereum jumps 10%, spearheading a broader crypto rebound amid rising ETF demand and increased buying from Bitmine

Renewed ETF inflows, growing corporate treasury demand and a rotation away from Bitcoin into alternative tokens are driving a recovery in Ethereum, pushing the second-largest cryptocurrency back into the spotlight.

Ether is leading Monday’s market advance, rising to a six-week high as investor interest begins to return following a prolonged period of weakness. The token climbed above $2,300, gaining more than 10% in the past 24 hours and outperforming bitcoin’s roughly 3% increase, as well as the broader crypto market, indicating a shift in momentum beyond BTC.

Despite the rebound, ETH remains more than 50% below its August peak after falling as much as 65% during the market downturn. However, price action has begun to stabilize in recent weeks, with February and March showing early signs of recovery supported by improving institutional flows.

U.S.-listed spot ether ETFs recorded over $160 million in inflows last week, their strongest weekly performance since mid-January, according to SoSoValue. At the same time, BlackRock introduced its Ethereum staking ETF, ETHB, which has already attracted more than $45 million in its first two trading days, alongside a $104 million seed investment, based on data from Farside Investors.

Corporate accumulation is further supporting the rally. BitMine, a leading firm focused on Ethereum treasury strategies, has acquired nearly 122,000 ETH — worth over $280 million — in the past two weeks. Its shares rose 13.6% on Monday, while Sharplink Gaming, another ETH-focused treasury company, gained more than 9%.

Analysts suggest the latest price action reflects a rotation out of bitcoin after its strong performance earlier this year. Joel Kruger said ether’s relative strength signals shifting market dynamics, potentially driven by network developments and more attractive valuations compared to BTC. He also noted that ETH has broken above a key trading range against bitcoin that had held since late January, indicating a possible bottom for the ETH/BTC pair.

Adam Saville Brown added that ether’s move back above $2,200 after weeks of underperformance suggests risk appetite is expanding across the crypto market, a typically positive signal for broader participation.

However, he cautioned that the rally could remain sensitive to macroeconomic developments. A more cautious stance on inflation from Jerome Powell could pressure altcoins, which tend to react more sharply than bitcoin. While downside risks appear to be easing, a sustained breakout higher may require more than just stable interest rate expectations.

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