Ether Surges Past $2,300 as ETF Inflows Fuel Short Squeeze

Ether is the native asset of the Ethereum network and a key foundation for trading and settling tokenized funds. JPMorgan and BlackRock plan to launch tokenized funds on Ethereum, reflecting major financial institutions’ efforts to bring traditional asset management onto blockchain rails. The plans have therefore become an important gauge of institutional adoption and demand for ETH.

According to the latest report, ETH had recovered to $2,300, though no exact publication date, fund size or launch schedule was provided. Traders said the price remained in a bottoming consolidation phase, with $2,400 serving as key near-term resistance. A decisive break above that level could trigger a stronger rally, while rejection would leave the market vulnerable to a pullback.

Ether has rebounded about 39% from multiyear lows below $1,750 and is again closing in on resistance near $2,400. CryptoQuant defines wallets that only receive coins without sending them as “accumulation addresses,” which typically signal positioning by long-term holders or institutions. Their average daily inflows in 2026 stand at about 200,000 ETH, making their activity an important gauge of market confidence.

Cointelegraph reported on May 6, 2026, that CryptoQuant data showed accumulation addresses added 246,620 ETH on May 5, worth about $592 million at the time. Technically, if $2,400 turns from resistance into support, an ascending-triangle pattern points to a target of about $3,315, while an extended rally could test $3,500. Failure to hold the level would leave Ether at risk of a pullback.

CryptoQuant uses the realized price of wallets holding at least 100,000 ETH as a benchmark for large holders’ cost basis, with $2,100 falling within that range. ETH has traded below this cost level only briefly since 2020, with the 2022 bear market the main exception. The market therefore views a sustained daily close above $2,100 as a key threshold for large holders to return to profit and for the trend to turn bullish.

ETH rose to $2,150 on Feb. 26, when analyst Dom said the price needed to break above $2,140 for short-term order flow to turn positive. By March 4, ETH had rebounded about 25% from below $1,800 to $2,200. CryptoQuant data showed net taker volume turning positive after nearly two months in negative territory, while U.S. spot Ether ETFs recorded net inflows of $169.4 million that day. ETH must still hold above $2,100.