The appetite for Ethereum (ETH) 
$2,332 among Wall Street’s altcoin enthusiasts has recently surged. Since the launch of spot Ethereum ETFs in the U.S. led by BlackRock, the weekly inflows have peaked at $908 million, marking the highest seen since their inception. As a result, a total of $2.7 billion flowed into these ETFs over the last four months. During this period, publicly traded company BitMine increased its Ethereum holdings to over $500 million following a private investment round, acquiring 163,142 ETH. This growing institutional demand is pushing the altcoin king above $3,000, with eyes set on the $4,000 benchmark.
Institutional Demand for Ethereum at Record Levels
The consistent inflow of capital into spot Ethereum ETFs has catapulted BlackRock’s ETHA fund to the forefront, with other managers like Fidelity and Franklin steadily increasing their shares. This continuous net inflow of funds clearly demonstrates the shift of long-term investor capital towards Ether. Experts emphasize that the deflationary nature of Ethereum’s supply, combined with advancements in Layer-2 technology, positions Ethereum as a strategic asset in institutional portfolios.
Another indicator of institutional interest is BitMine’s decision to double its ETH reserves immediately after completing a $250 million private investment round. CEO Jonathan Bates highlighted this shift in perspective among financial giants by stating, “Wall Street has clearly become an ‘ETH reserve company’.” The company’s ETH holdings totaling over 163,000 have been moved to long-term wallets within the Blockchain, diminishing selling pressure on the altcoin and bolstering its upward trend.
Technical Indicators Point Towards $4,000
Technical indicators are also strengthening the position of the bulls. According to analyst IncomeSharks, the weekly chart shows the MACD line crossing above the zero line, with increased green histograms confirming bullish momentum. The price initially targets $3,400, and the analyst notes that the demand for ETFs is enhancing spot liquidity, motivating buyers to overcome resistances on the path to $4,000.
Despite short-term volatility, maintaining $3,000 as psychological support strengthens expectations for moves toward medium-term targets. On-chain data indicates institutional inflows surpass the amount of ETH withdrawn from exchanges, reinforcing confidence in the $4,000 scenario.
