A new financial instrument on the Nasdaq is amplifying Ethereum’s appeal to traditional investors. The actively managed GSR Multi-Asset Staking ETF, trading under the ticker BESO, has begun passing through staking rewards from the Ethereum network directly to shareholders. This launch coincided with a sharp price move that caught many traders off guard, forcing the liquidation of nearly $100 million in short positions within a single day as ETH broke above $2,400.
The institutional appetite for Ethereum exposure is now undeniable. U.S. spot Ethereum ETFs have recorded nine consecutive days of net inflows, a stark reversal from an eight-day outflow streak in March that saw daily outflows as high as $48.5 million. The cumulative net inflow volume for these products has reached $11.94 billion, with total assets under management standing at $13.87 billion. This represents roughly five percent of Ethereum’s entire market capitalization. On Tuesday alone, these funds attracted a net $43 million, with BlackRock’s iShares Ethereum Trust capturing the lion’s share.
This sustained demand is underpinned by robust network fundamentals. In the first quarter of 2026, Ethereum processed over 200.4 million transactions, its most active quarter on record and double the volume seen in 2023. The network added 284,000 new users in Q1, an 82% increase from the previous quarter, driven by Layer-2 solutions, DeFi activity, and record Stablecoin volume of $180 billion.
Should investors sell immediately? Or is it worth buying Ethereum?
The structural scarcity created by staking is a key narrative. Approximately 30% of the total ETH supply is now locked in staking, providing a yield while reducing liquid supply. This dynamic is further intensified by corporate accumulation; BitMine Immersion Technologies now holds nearly five million Ether, equivalent to about four percent of the circulating supply, with a significant portion believed to be staked.
Currently trading around $2,372, Ethereum has gained nearly 17% over the past 30 days and sits comfortably above its 50-day moving average. While it remains down almost 21% for the year, the ETH/BTC ratio has recovered to its highest level since January. The Relative Strength Index (RSI) at 52 suggests the asset is neither overbought nor oversold.
Looking ahead, the market faces technical resistance near $2,466, with the more significant 200-day moving average looming around $2,824. The Ethereum ecosystem is also preparing for future catalysts. The Ethereum Foundation has launched a $1 million program to subsidize smart contract audits, covering up to 30% of costs for selected projects. Furthermore, the planned “Glamsterdam” upgrade for mid-2026 promises parallel execution and higher gas limits, aiming to reduce transaction costs and potentially fuel the next leg of growth.
Ad
Ethereum Stock: Buy or Sell?! New Ethereum Analysis from April 23 delivers the answer:
The latest Ethereum figures speak for themselves: Urgent action needed for Ethereum investors. Is it worth buying or should you sell? Find out what to do now in the current free analysis from April 23.
Ethereum: Buy or sell? Read more here...