ETH Hits $3,500 as $1.76 Billion Spot ETF Surge Fuels Rally

- Ethereum surged to $3,481, its highest level in six months. - Record $727 million inflow into spot ETH ETFs drove the rally. On July 17, 2025, Cointelegraph reported that Ethereum’s price climbed to a six-month high of $3,481. This surge was driven by a record-breaking single-day inflow of $727 million into spot Ether exchange-traded funds (ETFs), signaling growing institutional investor demand and contributing to the asset’s ongoing bullish momentum. According to Cointelegraph on July 17, ETF issuers such as BlackRock and Fidelity significantly contributed to this institutional activity. As a result, total inflows into spot ETH ETFs reached $1.76 billion over the past five days, with these funds now holding approximately 4% of Ethereum's total supply. In addition to institutional inflows, Ethereum is showing heightened on-chain activity; active addresses have increased, and weekly network fees have surged by 139% to $14 million, suggesting higher platform utilization. Meanwhile, the decentralized finance (DeFi) sector also plays a major role. The total value locked (TVL) in Ethereum-based protocols has climbed to a three-year high of $78.2 billion, reinforcing Ethereum's dominance in the DeFi space where it commands 58% of the total TVL market share. Market analysts are also tracking Ethereum’s Relative Strength Index (RSI), which currently shows a "buy signal." Historically, this signal has preceded notable price rallies for ETH. Citing RSI patterns and sustained institutional demand, analysts project potential price targets for Ethereum ranging from $7,000 to $10,000. Technical chart formations and broader growth metrics further reinforce these bullish forecasts. According to data from CoinMarketCap on July 17, Ethereum (ETH) was trading at $3,406.30 as of 15:15 UTC, reflecting a 4.98% increase over the past 24 hours.