After a brief lull in momentum, Ethereum (ETH) is back in the spotlight as institutional investors show renewed interest in the smart-contract platform. Recent developments indicate that major funds and asset managers are stepping up their exposure to Ethereum, signaling a potentially bullish trajectory for the cryptocurrency.
In a significant move, Bitmine Immersion Technologies has acquired approximately $251 million worth of ETH, adding 63,539 tokens to its portfolio. This acquisition brings Bitmine’s total holdings to over 3 million ETH, valued at around $13 billion, underscoring the growing institutional appetite for Ethereum.
Institutional Capital Flows Bolster Ethereum’s Bullish Case
BlackRock’s clients have also contributed to this trend, adding $41.91 million in Ethereum, further highlighting the increasing institutional adoption. This influx of capital coincides with Ethereum’s breakout from a descending trendline, which is reminiscent of the recent rally in gold. Notably, ETH’s correlation to gold reached 0.7 in Q3 2025, driven by ETF inflows and robust growth in decentralized finance (DeFi).
On-chain data reinforces the narrative of accumulation, as wallets are increasingly transferring ETH off exchanges, pointing to a trend of long-term holding. Furthermore, the use of tokenization and DeFi on the Ethereum network is expanding, indicating that institutions are viewing Ethereum not merely as a speculative asset but as a foundational infrastructure investment. This shift is particularly relevant in light of Ethereum’s energy efficiency post-Proof-of-Stake upgrade, aligning well with environmental, social, and governance (ESG) mandates.
Ethereum Holds $4,100 Resistance, Eyes on $4,440
From a technical perspective, Ethereum is currently testing a critical resistance zone between $4,100 and $4,440. Analysts, including Ali Martinez, note that the recent breakout from the descending trendline represents a bullish structural shift, provided that key support levels are maintained.
The foremost support level is situated around $3,800, with a potential deeper retracement to $3,600 if bullish momentum falters. A sustained break above $4,440 could pave the way for a rally towards the $4,800 to $5,000 range, contingent on continued institutional inflows and favorable macroeconomic conditions.
Conversely, a close below $3,800 may undermine the bullish case, potentially inviting a retracement towards $3,560 or lower. As ETF flows, macro liquidity, and robust network fundamentals converge, Ethereum demonstrates a unique blend of structural strength. However, execution remains crucial, and the market will be watching closely for a decisive close above $4,100 with accompanying volume to confirm the bullish trend.
Cover image from ChatGPT, ETHUSD chart from Tradingview
