Ethereum hits $4,600 as spot ETFs see a record $1B inflow, driving YTD totals to $8.2B and signaling rising institutional and public company demand.

Altcoins added to their rally on Wednesday in U.S. morning hours with Ethereum (ETH) nearing record highs, Solana (SOL) topping $200, and Dogecoin (DOGE) up double digits. The gains followed U.S. Treasury Secretary Scott Bessent’s suggestion that the Federal Reserve should weigh a 50 basis-point rate cut in September.

Cryptocurrencies are up on Tuesday, with altcoins notably outperforming Bitcoin. Cryptocurrency Ticker Price Bitcoin (CRYPTO: BTC) $119,461.17 Ethereum (CRYPTO: ETH) $4,485.78 Solana (CRYPTO: SOL) $188.

Ethereum and BNB approach their all-time highs, while Bitcoin surpasses its previous record. Bullish momentum remains strong for both altcoins, hinting at a move toward $5,000 ETH and $900 BNB, respectively.

After bitcoin’s latest push to record highs, ether is finally closing in on its own. Both cryptocurrencies have been riding a wave of risk-on sentiment and growing institutional interest, but analysts say ether may have the stronger tailwind.

Bitcoin and Ether are both trading within a whisker of all-time highs as investors pile into the two largest cryptocurrencies, with a recent wave of demand favoring the latter.