A significant Ethereum acquisition by digital asset manager Grayscale has injected fresh momentum into the cryptocurrency market, according to a recent update from Ash Crypto on X. The purchase, valued at approximately $11.98 million, has propelled Grayscale’s Ethereum holdings to the third position in terms of net assets within the ETF panel, now totaling a substantial $889.61 million. This move underscores the increasing institutional interest in Ethereum and its potential for further growth.
BREAKING:
— Ash Crypto (@Ashcryptoreal) May 2, 2025
GRAYSCALE JUST BOUGHT $11,980,000 WORTH OF ETH.
IT'S TIME FOR $2K ETH 🚀 pic.twitter.com/90j4A1bOqb
ETF Inflows Surge Following Grayscale’s Move
The impact of Grayscale’s acquisition is evident in the broader Ethereum ETF landscape. Data from SoSoValue on May 1st reveals a daily net inflow of $6.49 million into Ethereum products, pushing the cumulative inflow figure to an impressive $2.49 billion. The total traded value for these investment vehicles reached $240.71 million, highlighting the heightened activity surrounding Ethereum.
Notably, BlackRock’s ETHA, the largest Ethereum product with $2.32 billion in net assets, recorded zero daily inflow despite a cumulative inflow of $4.18 billion. Fidelity’s FETH, on the other hand, saw a significant daily inflow of $6.47 million, contributing to its $783.14 million in net assets.
Ethereum Price Gains Amidst Market Optimism
The positive market sentiment, fueled by institutional activity and ETF inflows, has reflected in Ethereum’s price. Currently trading around $1,833.52, Ethereum has experienced a 1.28% increase in the last 24 hours, according to CoinMarketCap data. Its market capitalization now stands at $221.36 billion, also marking a 1.29% rise. This upward trend comes amidst anticipation that Ethereum could soon test the crucial $2,000 price level, a psychological barrier that, if breached, could signal further bullish momentum. The increased trading volume of $15.79 billion in the last 24 hours further supports this growing optimism surrounding Ethereum’s near-term potential.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Grayscale Pushes for Spot Avalanche ETF Amid Rising Demand
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
