Ethereum ETFs Surpass $1 Billion Inflows, Fuelling Optimism
U.S.-listed spot Ethereum exchange-traded funds achieved a important breakthrough with over $1.02 billion in new capital injections during the latest trading session. This substantial growth highlights the growing enthusiasm surrounding Ethereum.
The standout performer was BlackRock’s ETHA,which attracted around $640 million. Fidelity’s FETH came second with nearly $277 million. Other notable contributions included Grayscale’s ETH ($66 million) and ETHE ($13 million).
With a combined trading volume exceeding $2.7 billion, these ETFs signal robust investor interest. All nine U.S. ETF offerings reported five straight days of positive inflows.
- ethereum now trades at $4,278.
- This places it 8% below its all-time high.
- Over the past week, the asset has surged 17%, indicating a bullish momentum.
Some analysts predict Ethereum will soon hit its all-time high of $4,815. Positive trends include large-scale corporate purchases and whales boosting their positions. Corporate ETH holdings now exceed $14 billion.
On-chain behaviour is shifting positively too. Long-term ETH holders are transitioning from selling to accumulating amid rising confidence.
Technically,Ethereum is in an upward channel since early August. The $4,300 barrier poses short-term resistance. However, surpassing this could propel the price to $4,500, and possibly beyond towards $5,241.
Yet, with the RSI at 72.88, the market could see short-term pullbacks. Support lies near the $3,835 level. If the current trend continues,Ethereum might soon retest its all-time high.
