Ethereum climbed on Tuesday to its highest level since mid-November, outperforming bitcoin and lifting broader crypto markets. Ether approached $3,400, gaining 8.4% over 24 hours, compared with bitcoin’s 4.5% advance and the CoinDesk 20 Index’s 6% rise.
The ETH/BTC ratio, a key measure of ether’s performance versus bitcoin, reached its strongest level since late October, signaling a rotation into ETH. Joel Kruger, market strategist at LMAX, attributed the surge to “improving regulatory expectations and renewed optimism around ETF-related inflows,” noting that staking may soon be included in funds.
A major catalyst was BlackRock’s Monday filing for the iShares Ethereum Staking Trust, which would allow investors to earn yield from ETH staking. Kruger said the announcement “revives optimism around ETH-focused inflows and yield-bearing crypto products,” despite ongoing regulatory uncertainty.
Ether could also benefit from real-world asset tokenization, a fast-growing trend bringing financial instruments like bonds, funds, and real estate onto Ethereum smart contract platforms.
