Ethereum's recent price surge is driven by a mix of institutional interest and positive market sentiment. BlackRock's substantial acquisition of Ethereum has signaled strong confidence in the asset, encouraging both institutional and retail investors. Additionally, Eric Trump's endorsement of Ethereum as a promising investment has further bolstered its appeal. The geopolitical landscape has also played a role, with the temporary pause on U.S. tariffs on Canada and Mexico improving market sentiment. This diplomatic development, along with Ethereum's increased gas limit aimed at enhancing network scalability, has contributed to the cryptocurrency's upward momentum.
The Volatility Shares Trust 2x Ether ETF (ETHU) has responded positively, rising 3.67% to $4.80 as of 8:20 AM on Wednesday, February 5.