Ethereum Bulls Eye $4K As BlackRock ETF Rumors Heat Up
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Ethereum (ETH) saw renewed bullish momentum on July 20, 2025, as rumors of a potential BlackRock spot Ethereum ETF gained traction. The second-largest cryptocurrency by market cap surged 3.5% in the past 24 hours, trading at $3,950 at the time of writing. Market optimism is growing as traders speculate on the institutional inflow possibilities that could mirror Bitcoin’s ETF-driven rally earlier this year.
The buzz began when Bloomberg ETF analyst Eric Balchunas hinted that BlackRock’s long-pending ETH spot ETF filing could receive regulatory approval as early as next month. The U.S. Securities and Exchange Commission (SEC) is said to be reviewing the application with a more open stance following the legal precedent set by Grayscale’s court victory last year.
“If Ethereum gets its spot ETF, we might see a similar wave of institutional adoption as we did with Bitcoin,” said Balchunas. “That could push ETH well above the $4,200 mark in the short term.”
Traders responded swiftly to the news, with ETH/USD breaking above the key $3,900 resistance for the first time in over a month. Technical indicators suggest strong momentum, with the Relative Strength Index (RSI) crossing 70 and the Moving Average Convergence Divergence (MACD) forming a bullish crossover.
According to data from Santiment, Ethereum’s on-chain metrics have turned increasingly bullish. Daily active addresses climbed to a three-month high, while large wallets (holding over 10,000 ETH) have been accumulating steadily. Glassnode data further confirmed that exchange balances are at a multi-year low, hinting at reduced selling pressure.
Network activity is also on the rise, especially with Ethereum’s Layer 2 scaling solutions seeing a significant uptick in adoption. Arbitrum and Optimism reported a combined 18% increase in weekly transactions, suggesting growing confidence in the Ethereum ecosystem.
While no official confirmation has been made from BlackRock or the SEC, the crypto community remains optimistic. Ethereum co-founder Vitalik Buterin did not comment directly on the ETF rumors but noted in a recent podcast that the ecosystem is “ripe for broader adoption” and “ready to welcome a new wave of institutional interest.”
If the BlackRock ETF does receive the green light, Ethereum’s price could rally past the psychological $4,000 barrier, setting the stage for a potential retest of its all-time high near $4,800. For now, all eyes remain on regulatory developments and whether Ethereum will follow in Bitcoin’s ETF footsteps toward mainstream institutional recognition.
