Ethereum experienced a notable rise as Friday morning approached, climbing over 5% in just 24 hours to trade above $2,500.
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As the second-largest cryptocurrency by market capitalization, Ethereum has been gaining momentum throughout the month as investors re-enter the spot Ethereum exchange-traded funds (ETFs). In the past nine trading days, these ETFs have recorded over $1 billion in net inflows, as per CoinGlass data. During this period, there was only one instance of outflows, totaling $48.2 million on September 2.
In addition to the positive ETF performance, BitMine Immersion Technologies, a leading Ethereum investment firm, made headlines this week by demonstrating strong confidence in the cryptocurrency. The firm acquired over $133 million worth of ETH at current market prices, marking its biggest buy since June.According to CoinDesk.
In a recent statement, Tom Lee, the firm’s chairman, expressed his belief that institutional investors are likely to increase their cryptocurrency holdings as the year progresses, which could serve as an additional driver for ETH.
“We are optimistic about several favorable factors as we enter the closing months of 2026,” Lee mentioned, highlighting the upcoming vote on the CLARITY Act and his belief that the four-year market cycle is nearing its end.
However, Kalshi traders appear less certain that the CLARITY Act will act as a catalyst at the year’s end, pricing the chances of it becoming law before January 1, 2027 at just 19% as of now. The likelihood of it passing even sooner, such as before November 1 or December 1, is even lower, currently set at 7% and 14%, respectively.
Optimistic Outlook for Ethereum’s Year-End
Despite the low probability of the CLARITY Act passing soon, Kalshi traders are optimistic about Ethereum’s year-end prospects.
Traders now estimate the chances of ETH surpassing $3,500 at 30%, which is twice the likelihood it had a month ago. Meanwhile, the possibility of reclaiming $4,000 stands at 17%, a rise from just 6% in early August.
Though currently trading about 50% below its all-time high of $4,946 achieved last August, traders are not completely dismissing the potential for such a price surge. Achieving that record would require Ethereum to jump approximately 99%, a feat traders believe has a 12% chance of occurring within this year.
As for whether it will close the year at that level, the scenario is different. The cumulative odds for Ethereum reaching ranges of $4,500 or higher are currentlyset at just 4.7% as of Thursday afternoon.
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