Ethereum open interest climbs to $25.4B as ETF inflows and institutional buys pick up

Huo Xing Finance, citing Cointelegraph, said Ethereum has held above $2,300 after a recent rebound. ETH futures open interest has increased to $25.4 billion, signaling stronger demand for leveraged exposure. U.S.-listed spot Ethereum ETFs recorded $248 million of net inflows over the past 10 days, and Bitmine Immersion disclosed ETH purchases totaling $312 million. At the same time, ETH perpetual funding rates have struggled to stay above 5% and have repeatedly slipped below zero, pointing to restrained conviction behind the move. Ethereum's weekly DApp revenue has also fallen from $24 million in early February to $11 million, suggesting softer network activity. Rising competition among public blockchains may continue to weigh on ETH price performance.