Ethereum (ETH) hit a new all-time high of $4,935.52, marking a 35% increase in a month. The surge is fueled by institutional investments, milestones, and renewed investor optimism. Institutional data shows Ethereum spot ETFs received $337.6 million in daily net inflows on August 22nd, totaling over $12.4 billion since launch. The combined net assets of all Ethereum spot ETFs now stand at $30.5 billion, highlighting significant institutional participation. Ethereum’s rapid rise to a $500 billion market cap in 5.8 years, faster than Bitcoin or Apple, underscores its growth potential. Market liquidations triggered by Ethereum’s spike wiped out nearly $18 million in ETH positions in one hour. Bitmine Immersion now holds $6.61 billion in Ethereum, with its stock price rising over 12% alongside ETH’s surge.

Read more at Yahoo Finance: Ethereum hits new high, leaves crypto community perplexed