Ethereum exceeds 4000 euros for the first time since 2021
ETFs invest billions of US dollars in Ethereum. The price has been rising significantly for weeks; Bitcoin's dominance is gradually declining.
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Bitcoin's price increases are now also impacting the cryptocurrency Ethereum. Since July, Ethereum has risen by more than 50% to 4000 euros. The last time the coin reached this level was almost four years ago, at the beginning of December 2021.
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The price of Bitcoin has been rising significantly since 2024. In March 2024, the cryptocurrency broke its previous all-time high from fall 2021 and has since risen from around 60,000 to over 100,000 euros. The all-time high was 105,495 euros on January 20, 2025 – Bitcoin has been just below this level for weeks.
Ethereum has not had such a strong run so far. The all-time high still dates back to the end of 2021, when the cryptocurrency reached 4229 euros. The recent rise is said to have been triggered primarily by US exchange-traded funds (ETFs) for Ethereum: On August 11 alone, a good one billion US dollars (around 850 million euros) flowed into the nine listed Ethereum ETFs. Blackrock's iShares Ethereum Trust ETF (ETHA) had the highest share at just under 640 million dollars. According to Bloomberg, a total of over USD 8.2 billion is said to have flowed into Ethereum ETFs this year. ETFs of individual cryptocurrencies are not permitted in the EU. In addition, speculation about US interest rate policy is fueling stock market prices.
Furthermore, since an update in July, Ethereum has allowed larger transaction blocks with 45 million so-called gas units per block instead of the previous 36 million. Daily transactions have been gradually increasing since then, most recently to just under 1.8 million.
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Bitcoin less dominant
In line with Ethereum's rise, Bitcoin's dominance is declining. At the beginning of June, Bitcoin still accounted for just over 64% of the market capitalization of all cryptocurrencies. This share has since fallen to just over 58%. Ethereum has risen from 9 to almost 14 percent in the same period.
Meanwhile, smaller cryptocurrencies, also known as altcoins, are only benefiting in isolated cases. All of them combined have a market share of less than 28% (excluding Bitcoin and Ethereum).
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