Ethereum is back in focus after a wave of new records and renewed institutional interest. Inflows have hit new highs, several public companies have added Ethereum to their balance sheets, and the price has moved above $3,800 for the first time in months. This combination of factors is reinforcing Ethereum’s position as one of the most actively adopted digital assets in the market.

Inflows Hit Record Levels

According to a recent report by CoinShares, Ethereum recorded $2.12 billion in inflows last week, the largest weekly amount ever recorded for the asset. Total inflows for 2025 have now reached nearly $6.2 billion, already surpassing the full-year total for 2024. Ethereum now makes up nearly 28% of all digital asset investment inflows this year.

Report by CoinShares on weekly flow data as of 21.7.25

This surge appears to reflect growing interest from institutional players, many of whom are drawn to Ethereum’s yield from staking, its growing network activity, and its broader use cases beyond simple value storage.

Ethereum ETFs are among the top performing ETFs for this week according to CoinShares. Data from 19.7.25

Public Companies Add Ethereum to Treasuries

Recent weeks have also seen a shift in how companies approach Ethereum. A number of firms have made substantial allocations, treating ETH as part of their broader treasury or growth strategy.

SharpLink Gaming now holds more than 280,000 ETH, with nearly all of it staked. BitMine Immersion Technologies has disclosed over 300,000 ETH in holdings and has stated ambitions to eventually hold 5% of Ethereum’s circulating supply. Bit Digital, which previously focused on Bitcoin, has pivoted to Ethereum with over 120,000 ETH now on its books.

Bit Digital recently moved all of their holdings into ETH and established an Ethereum exclusive treasury strategy. An official press release was issued on 18.7.25

These moves indicate that some companies view Ethereum as a core asset with long-term value, in part due to its ability to generate yield and support real on-chain activity.

Ethereum’s Market Reaction

The market has responded quickly. Ethereum initially crossed the $3,000 mark earlier this month, reaching its highest level ever in the last six months. Stocks with Ethereum exposure, such as BitMine and SharpLink, have also seen sharp gains. Both companies recorded double-digit increases in their share prices following public announcements about ETH accumulation.

This rally is not happening in isolation. It coincides with growing awareness around Ethereum’s economic model, its role in the DeFi ecosystem, and its relative scarcity now that a portion of supply is consistently being burned.

Upcoming Protocol Upgrade

Ethereum’s roadmap is continuing to move forward. Developers have proposed the Fusaka upgrade for November, following the planned Glamsterdam changes. These network updates are expected to improve scalability, efficiency, and the overall user experience.

While the upgrades themselves may not directly impact short-term price action, they form part of a longer arc of progress. Ethereum’s ability to continue adapting is one reason it remains central to many blockchain strategies.

Conclusion

Ethereum’s recent surge in inflows, corporate accumulation, and protocol development all point to a shift in how the asset is being perceived. It is no longer being treated purely as a speculative investment. For some, it is becoming a foundational asset with utility, yield, and long-term relevance.

As institutional interest grows and companies continue to put Ethereum on their balance sheets, this momentum could shape how the asset is positioned heading into the final quarter of 2025.

Are we entering a new phase in the market cycle? Chart by The Block, Yahoo Finance as of 21.7.25

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