Ethereum ETFs See $146 Million Inflows, ETH Price Surges to $3,300
The US spot Ethereum ETFs have shown consistent strength, registering inflows for six consecutive days. On Wednesday, total inflows reached $146 million, with Fidelity's FETH contributing over $100 million.
Following the recent political developments, total inflows into spot Ethereum ETFs have turned net positive. In the last six trading sessions, these ETFs attracted over $800 million in inflows, according to data from Farside Investors.
Most inflows occurred in the past three days, marking the top three individual inflow days since the launch of these ETFs. After a slow start post-launch in July 2024, which included $500 million in outflows until early November, the trend reversed, and total inflows now exceed $240 million.
Will Spot Ethereum ETF Inflows Continue?
Recent inflows into spot Ethereum ETFs align with a broader market rally and an increase in ETH price to $3,300. Investor sentiment remains mixed regarding sustainability of this trend.
Despite healthy inflows, institutional preference still leans towards Bitcoin ETFs. Ethereum ETFs represent only 1% of the inflows seen in spot Bitcoin ETFs. This disparity contributes to Bitcoin outperforming altcoins significantly. Future improvement for Ethereum is uncertain, especially if regulatory changes favor Bitcoin.
Some analysts argue against comparing Ethereum and Bitcoin due to their distinct characteristics, predicting that Ethereum ETFs will attract more institutional inflows by 2025. Bitwise CIO Matt Hougan stated, “ETH ETF flows are going to surprise people in 2025. There is growing institutional demand for ETH exposure.”
Additionally, BlackRock Advisors has reportedly been purchasing its own Ether ETFs, as indicated by a recent SEC filing.
Not Only That, But it Appears Blackrock Advisors Bought its Own Ethereum ETF in One of the Mutual Funds
That's a first, right? @EricBalchunas https://t.co/i24pKXlXLP pic.twitter.com/kUtWbzoMNa
— matthew sigel, recovering CFA (@matthew_sigel) November 14, 2024
ETH Price Rally to $4,000?
After gaining 40% weekly following the Trump victory, ETH price surged to $3,300 but faces resistance at $3,260. Bulls need to surpass this level for further gains.
#Altcoins #Ethereum $5,700 as Intermediate Target 🎯#ETH is at a crucial level: Kijun 🔵.
Once it clears this level and breaks above the Kumo Cloud, the 100% Fibonacci extension could pull it like a magnet 🧲. pic.twitter.com/FiDXqoIBtE
— Titan of Crypto (@Washigorira) November 9, 2024
If bulls succeed in breaking this resistance, analysts predict ETH could reach new all-time highs above $5,500. There is speculation about ETH participating in a potential altcoin rally in 2025, possibly reaching $10,000 as forecasted by several analysts.