TL;DR:
• Ether trades at $4,714, just $177 from its November 2021 all-time high of $4,891
• ETF inflows hit $1.5 billion this week vs $244 million for Bitcoin ETFs
• Standard Chartered raises price target to $7,500 from $4,000
• Institutional adoption accelerating as crypto gains mainstream acceptance
Ether is racing toward its all-time high for the first time since November 2021, powered by a stunning $1.5 billion in ETF inflows this week alone. The second-largest cryptocurrency hit $4,714.02 Wednesday, putting it within striking distance of its $4,891 record as institutional money floods into newly-launched exchange-traded funds at six times the rate of Bitcoin ETFs.
Ethereum just delivered the crypto rally everyone's been waiting for. The world's second-largest cryptocurrency surged to $4,714.02 Wednesday morning, putting it tantalizingly close to its November 2021 all-time high of $4,891.70 – a level it hasn't approached in nearly four years.
The surge comes as institutional money pours into Ether exchange-traded funds at an unprecedented pace. According to CNBC's analysis, Ether ETFs have attracted $1.5 billion in inflows just this week, dwarfing the $244 million flowing into Bitcoin ETFs during the same period. That's a six-to-one ratio in favor of the smart contract platform, signaling a dramatic shift in institutional preference.
"We're seeing a fundamental repricing of Ethereum as institutions finally understand its utility beyond just being digital money," a trader at Galaxy Digital told Reuters Wednesday. The comment reflects growing recognition of Ethereum's role as the backbone for decentralized finance, NFTs, and emerging AI applications.
Standard Chartered just threw fuel on the fire, dramatically raising its year-end price target for ETH to $7,500 from $4,000 – an 87.5% increase that would represent a 59% gain from current levels. The British bank's crypto research team cited "accelerating institutional adoption and upcoming protocol upgrades" as key drivers behind their bullish outlook.
The timing couldn't be more perfect for Ethereum bulls. The cryptocurrency has been building momentum since August began, climbing over 25% month-to-date as the broader crypto market finds its footing. Bitcoin, meanwhile, has gained a more modest 8% over the same period, underperforming its smart contract rival for the first time since early 2024.
