Ethereum Rises Over 2,300 as ETFs and Staking Fuel Inflows

Ethereum climbs more than 10% to above $2,300, outpacing Bitcoin as ETF inflows and staking activity boost the rally.

2026-03-17

Ethereum climbed more than 10% on Monday to trade above $2,300, its highest price in six weeks. The move outpaced Bitcoin’s 3% gain. The rally marks a shift after a long stretch of losses for Ethereum.

At its worst point during the market’s winter slide, Ethereum had fallen roughly 65% from its August record high. Prices began to stabilize in February and March as institutional flows started to turn supportive. U.S. spot Ether ETFs took in more than $160 million last week, their strongest weekly inflow since mid-January, according to data from SoSoValue.

BlackRock launched a yield-paying Ethereum staking ETF under the ticker ETHB during the same period. The product attracted more than $45 million in its first two trading days, on top of a $104 million seed investment, according to data from Farside Investors. BitMine Immersion, the largest corporate holder pursuing an Ethereum treasury strategy, purchased approximately 60,999 Ethereum over the past week.

That brings its total holdings to roughly 4.596 million tokens, equivalent to about 3.81% of Ethereum’s circulating supply. The position is worth more than $10.4 billion at current prices, and BitMine’s combined crypto assets, cash, and venture investments total approximately $11.5 billion. BitMine has stated a goal of accumulating 5% of all Ethereum in circulation.

The firm already has roughly 3.04 million Ethereum deployed in staking, valued at around $6.6 billion. That staked position generates approximately $180 million in annualized staking revenue. Shares of BitMine rose 13.6% on Monday, while fellow Ethereum treasury company Sharplink Gaming gained 9.1%.

Analysts say the price action may reflect investors rotating out of Bitcoin and into Ethereum after Bitcoin dominated inflows earlier in the year. “‘ETH has broken back above $2,200 after weeks of underperformance,’ said Adam Saville Brown, head of commercial at Tesseract Group.” Joel Kruger, market strategist at LMAX Group, said Ethereum has broken above a key level against Bitcoin where it traded since late January, which he described as “potentially marking a significant bottom for ETHBTC.”