Ethereum breaks through $4,600 to hit a multi-year high as corporate and institutional interest continues to grow

Ethereum (ETH) surged over 5% to break $4,600, reaching its highest price since December 2021, driven by corporate treasury purchases, record inflows into U.S. spot ETFs, and expectations of a potential Fed rate cut in September.
U.S. CPI data showed inflation above the Fed's 2% target but aligned with expectations, boosting bets on a rate cut that could ease lending conditions.
Bitmine Immersion Technologies plans to raise $20 billion for further ETH acquisitions, already holding $5 billion in ETH, reflecting a broader corporate trend of integrating crypto into treasury strategies.
U.S. Ethereum spot ETFs saw a record $1 billion net inflow on August 11, outpacing Bitcoin ETFs for the second time in August.
ETH/BTC ratio rose nearly 50% to 0.37 in the past month, though still 15% lower than a year ago, as Ethereum's market share rebounds.
Ethereum's dominance in asset tokenization, DeFi, and blockchain settlement systems is bolstered by recent upgrades improving scalability and reducing costs.
Regulatory clarity, including the U.S. GENIUS Act, and increased ETH holdings by firms like Sharplink further fueled demand.
Combined factors—corporate accumulation, ETF inflows, and potential monetary easing—pushed ETH to a near five-year high, with sustained buying pressure reducing typical post-rally volatility.

‍On August 12, Ethereum (ETH) rose more than 5%, breaking through $4,600, setting its highest price since December 2021.

The rally coincided with corporate treasury purchases of currency, record inflows into U.S. spot ETFs, and growing expectations of a possible interest rate cut at the Federal Reserve's September policy meeting.

The latest price movements followed the release of U.S. Consumer Price Index (CPI) data, which showed annual inflation above the central bank's 2% target but generally in line with expectations.

The data prompted market participants to increase bets that the Federal Reserve will implement its first interest rate cut since 2020, which would ease lending conditions across financial markets.

Bitmine Immersion Technologies has disclosed plans to raise up to $20 billion to fund further Ethereum acquisitions. The company already holds approximately $5 billion in ETH, making it one of the largest known corporate holders of the second-largest cryptocurrency.

Its large-scale increase in holdings is in line with the general trend of companies incorporating digital assets into their treasury strategies. As the channels for institutions to enter the crypto market continue to expand, this trend is accelerating.

On August 11, the U.S.-listed Ethereum spot ETF saw net inflows of $1 billion, setting a single-day record since its launch this year. This is also the second time since August that its net inflow has exceeded that of the Bitcoin spot ETF.

Ethereum has strengthened against Bitcoin over the past month, with the ETH/BTC ratio rising nearly 50% to above 0.37, although it remains 15% lower than it was a year ago.

After a period of decline relative to Bitcoin, Ethereum's share of the crypto market has continued to rise in recent weeks.

The network accounts for a significant share of activity in asset tokenization, DeFi, and blockchain-based settlement systems that emulate traditional market infrastructure. These applications are supported by recent software upgrades designed to increase scalability and reduce transaction costs.

Regulatory dynamics have also shaped the current environment. In the United States, the passage of the GENIUS Act, which provides clearer guidance for certain digital asset activities, is believed to be a factor in the renewed engagement of institutions.

At the same time, other digital asset treasuries, including Sharplink, also increased their ETH holdings, further driving market demand. The combined effects of increased corporate holdings, strong ETF inflows, and the potential for looser monetary policy have pushed Ethereum prices to their highest level in nearly five years.

While previous rallies have often been followed by high volatility, the current market environment reflects a confluence of drivers, with funds continuing to concentrate on buying the asset in recent weeks.