Ethereum price tests $2,600 amid influx of over $580 million into ETH ETFs

Ethereum is approaching new records as its popularity among investors continues to grow. On Monday, the cryptocurrency briefly surpassed the $2,600 mark due to increased buying activity and a decline in exchange reserves to a historic low of 18.57 million ETH.

According to FXStreet, around $583 million flowed into Ethereum investment products last week. Notably, US Ether-backed funds received over $528 million—the highest weekly inflow since December 2024, as noted by the website’s experts.

However, escalating tensions in the Middle East slightly tempered the growth. At the end of last week, a small outflow of $2.18 million from ETH ETFs was recorded, FXStreet adds.

Tracy Jin, COO of crypto exchange MEXC, attributes Ethereum’s success to the major Pectra upgrade and improvements in network regulation. Nevertheless, her year-end price forecast for the token remains quite uncertain. Jin estimates that ETH could trade between $2,800 and $3,600.