Ethereum (ETH) is closing in on its 2021 all-time high as institutional demand surges, fueled by record-breaking inflows into U.S. spot Ethereum exchange-traded funds (ETFs).

On Wednesday alone, Ethereum ETFs pulled in $729.1 million, their second-largest daily inflow since launch, with BlackRock’s ETHA accounting for $500.9 million and Fidelity’s FETH adding $154.7 million. Over the past six days, these funds have attracted more than $2.3 billion, driving ETH prices above $4,900.

Standard Chartered has raised its year-end price forecast for ETH from $4,000 to $7,500, citing ETF inflows, institutional buying, and strengthening network fundamentals. Since June, ETFs have absorbed 3.9% of Ethereum’s circulating supply, outpacing even corporate treasury accumulation.

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