Ethereum’s price has surged to new highs, surpassing $4,500 as the asset approaches its November 2021 record. This significant jump is attributed to institutional participation and a historic influx of $1 billion into Ethereum Spot ETFs on August 11th, 2025. Firms like SharpLink Gaming and BitMine Immersion Technologies led the charge, with BitMine surpassing the one million ETH milestone and announcing plans for a $20 billion expansion of its equity program. This surge follows a 23% weekly rally, pushing Ethereum’s year-to-date gains to a remarkable 55%. Experts highlight the role of DeFi expansion and increasing institutional interest in driving this upward trend. Key market highlights include record ETF inflows, ETH options skews shifting to favor short-term calls, and Bitcoin’s own surge past $124K following President Trump’s executive order on digital asset investments in 401(k) plans. The full report offers a detailed analysis of these trends through charts, options flow analysis, and technical insights.