The price of Ethereum (ETH) jumped above $4,000 on Friday, a mark not recorded since it briefly reached that threshold in March.
The move upward comes on the back of growing Ethereum ETF demand, with the funds collectively recording their largest-ever daily net inflow of more than $428 million on December 5, according to data from CoinGlass.
Major Ethereum ETF inflows come amid growing excitement from analysts. Plume CEO Chris Yin told Decrypt in November that the expectation of more favorable crypto regulation under President-elect Donald Trump is leading to “overdue excitement” for the funds, which began trading in the U.S. in July.
That excitement played out in order books this week, with Ethereum ETF products recording more than $750 million in total net inflows according to CoinGlass, all while the price of Bitcoin broke the $100,000 milestone for the first time.
Both Ethereum and Bitcoin ETFs have recorded record-breaking inflows since Trump secured a second term in the White House one month ago.
Ethereum has lagged other major crypto assets like Solana (SOL) and Bitcoin (BTC) for much of the year, failing to make new all-time highs as others have. However, among major assets, it has posted the largest gain in the last week, jumping more than 10% in that time.
Despite breaking $4,000, Ethereum remains 17% off its all-time high of $4,878, recorded in November 2021, according to CoinGecko. ETH is currently trading at $4,024, a gain of nearly 4% in the last 24 hours.
Edited by Andrew Hayward
