Ethereum rose above $1,800 this week, notching roughly 11% gains over seven days as spot exchange-traded funds drew fresh inflows and on-chain signals pointed to unusually strong holder conviction.

Spot Ethereum ETFs pulled in about $96 million in the opening stretch of the week, led by low-fee products such as BlackRock's, a reversal from the outflows that had weighed on the token earlier in the month. The shift helped ETH outpace Bitcoin, which held in the $63,000 to $64,000 range.

Under the surface, the conviction looks structural. Exchange reserves of Ether have fallen to record lows while staking volumes hit new highs, suggesting holders are moving coins off trading venues and locking them into yield rather than preparing to sell. Firms such as Bitmine have disclosed sizable ETH positions.

The relative strength comes after a difficult stretch in which Ethereum traded near multi-month lows amid broader caution. Analysts attribute the rebound to a mix of relief, ETF demand and a renewed appetite for risk once regulatory headlines turned less threatening.

Whether the move marks the start of a sustained recovery remains unclear. Total crypto market capitalization has hovered around $2.2 trillion to $2.3 trillion, and traders are focused more on protecting gains than on chasing new highs — a posture consistent with a market still finding its footing.

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