Ethereum ETFs See $13.5 Million Inflows Amid Bullish Price Outlook
Significant institutional inflows into Ethereum-based ETFs have been observed, with $13.5 million entering on a recent Tuesday. Key contributors include:
- Grayscale’s mini-Ether ETF: $7.4 million
- VanEck’s ETHV: $3.0 million
- Franklin’s EZET: $3.1 million
Ethereum is currently priced around $2,600, having increased by 5.20% in the last 24 hours. Analyst Ali Martinez predicts potential price targets between $3,200 and $4,000, with key resistance at $3,100 and support at $2,233.
BlackRock has filed an amendment for its spot Ethereum ETF to allow in-kind creation and redemption, which could enhance liquidity. Abraxas Capital recently acquired 242,652 ETH worth $561 million, signaling strong institutional interest.
Technical analysis indicates potential upside with Fibonacci levels suggesting targets of $2,967 and $3,174 if bullish momentum continues. The RSI is currently at 76, indicating overbought conditions, which may lead to a short-term cooldown, but historical trends show Ethereum often rallies under strong institutional demand.
If prices pull back, solid support is expected at $2,233.