Ethereum Jumps 6% as BlackRock's Staked ETH Fund Debuts with $100M Day-One Inflows

Ethereum is rallying sharply as a fresh wave of institutional demand hits a market with historically tight liquid supply. ETH was last trading around $1,719 on July 3, 2026, up 6.4% on the day and nearly 9% over the week, outperforming other major cryptocurrencies. The key catalyst was BlackRock's launch of a new staked Ethereum fund, ETHB. The product attracted $100 million in inflows on its first day, a notable signal after months of muted appetite across crypto investment vehicles. ETHB stands out because it passes Ethereum's staking yield to investors, roughly 3% for securing the network. Traditional Ethereum ETFs generally do not distribute staking rewards, making ETHB a yield-bearing option from the world's largest asset manager. The timing also matters. Ethereum exchange reserves are near record lows at roughly 14.5 million ETH, while the staking share is near record highs at about one-third of total supply. With less ETH readily available on exchanges, incremental demand can translate into faster price moves. Other market forces added momentum. Crypto markets saw a short squeeze that liquidated about $281 million in bearish positions. Risk sentiment improved after Fed Chair Warsh struck a more dovish tone, saying inflation risks had eased. Investors are now focused on upcoming U.S. jobs data as the next macro catalyst. Separately, Bitcoin ETFs recorded five consecutive days of inflows, led by BlackRock's IBIT, marking the first sustained streak in months. Even with the surge, the broader technical picture remains unresolved. ETH is still more than 60% below its 2025 peak near $4,950. Market participants are watching $1,750 as initial resistance, with $1,800 as the key level that capped price during the selloff. A move through $2,000 would strengthen the case for a durable recovery. On the downside, $1,650 is the first support to monitor, followed by $1,600, a level that previously held during the deepest part of the drawdown. Holding above $1,650 keeps the current breakout attempt intact. Bottom line: Ethereum's strongest day in months is being driven by a concrete catalyst—BlackRock's ETHB pulling in a nine-figure inflow at launch—amplified by thin exchange supply, short covering, and a friendlier macro tone. The rally has real drivers, but confirmation still hinges on reclaiming $1,800 and then $2,000. FAQ What is the Ethereum price today? Ethereum is trading around $1,719 on July 3, 2026, up 6.4% on the day and nearly 9% on the week. Why is Ethereum going up today? BlackRock's staked Ethereum fund ETHB drew $100 million in day-one inflows into a market with historically low exchange supply. A dovish signal from Fed Chair Warsh, roughly $281 million in short liquidations, and five straight days of Bitcoin ETF inflows also supported sentiment. What is BlackRock's ETHB fund? ETHB is BlackRock's staked Ethereum fund that passes Ethereum's staking yield (about 3%) to investors, unlike older ETH ETF structures. What are the key Ethereum levels to watch? Resistance: $1,750, then $1,800, with $2,000 as the major milestone. Support: $1,650, then $1,600. Is the Ethereum recovery confirmed? Not yet. ETH remains well below its 2025 high and the broader downtrend is still in place until $1,800 and then $2,000 are reclaimed. Cryptocurrency is highly volatile; this is not investment advice.