BlackRock's Spot ETFs Fuel Ether Surge Amid Growing Demand

Ether has experienced an 11% surge in price over the past week, outperforming other major cryptocurrencies like Bitcoin.

This increase is largely attributed to $96 million inflows into U.S. spot ether ETFs, primarily from low-fee funds offered by BlackRock, while Grayscale's higher-fee ether trust has seen outflows.

The demand for ether has also been boosted by the growing usage of the asset on Robinhood Chain, a new layer-2 network that utilizes ether for transactions.