Ethereum surged 7% to break above $2,000, trading at $2,047 after weeks of struggling below that level. The move coincided with a shift to positive institutional flows into Ethereum ETFs, including $11.1 million in fresh purchases by Grayscale. Market attention now turns to a major $893 million ETH options expiry scheduled for Friday, which could introduce near-term volatility.
Ethereum has surpassed the $2,000 mark, trading at $2,047 following a 7% gain in 24 hours. This rally represents a shift from its prolonged consolidation near $1,920 throughout much of February 2026.
The price action followed a significant shift in institutional capital flows. Ethereum ETFs recorded $9.23 million in net inflows, reversing previous weeks of outflows, with Grayscale leading the buying activity.
Traders are now watching a substantial derivatives event, as $893 million in ETH Options are set to expire on Friday. The Max Pain point for these options is $2,200, notably higher than the recent spot price, while the Put-to-Call ratio is 0.78.
This options expiry is part of a broader $8.4 billion expiration event across cryptocurrencies. Bitcoin Options worth $7.54 billion are also expiring with a Max Pain point of $75,000.
On-chain, Ethereum’s momentum indicators like the MACD are now hinting at positive momentum. The altcoin successfully avoided another breakdown after bouncing from the $1,750 support level earlier in the period.
