Ethereum ETFs See Record Inflows Amid Price Surge

Spot Ethereum exchange-traded funds (ETFs) have experienced their highest-ever weekly inflows, coinciding with Ethereum (ETH) surging past the $3,000 mark for the first time since August. According to data from SoSovalue, a record $154.66 million flowed into Ethereum-based ETF products over the past week, marking the largest influx since the U.S. Securities and Exchange Commission (SEC) approved Ethereum ETF offerings in July 2023.

The uptick in inflows follows Donald Trump’s win in the U.S. presidential elections, which sparked a broader market rally. The positive sentiment is driven by hopes that the new administration will adopt more crypto-friendly regulations. Since November 6, Ethereum ETFs have experienced three consecutive days of positive inflows, totaling over $217 million. The peak inflows occurred on November 8, when $85.86 million flowed into four ETF offerings, a level not seen since early August.

Key ETF Inflows:

• BlackRock’s iShares Ethereum Trust (ETHA) led the gains with $59.8 million in inflows, marking a 2-day streak.
• Fidelity’s FETH followed with $18.4 million in inflows over 3 days.
• Other ETFs like VanEck’s ETHV and Bitwise’s ETHW also saw inflows, though at smaller amounts.

Ethereum’s Price Surge and Bullish Predictions

Ethereum’s price broke the $3,000 barrier on November 8, reaching a three-month high and setting the stage for potential future gains. This surge followed a dip to $2,395 on November 5, with Ethereum rapidly climbing as the market reacted to favorable U.S. election results, expectations of a Federal Reserve rate cut, and rising ETF inflows.

As of the latest data, ETH has surged by over 21% in the past week, outpacing Bitcoin. Analysts are optimistic about Ethereum’s price trajectory, with some predicting a run above $4,000 if the bulls manage to maintain support above the $3,000 mark.

Bullish Ethereum Price Targets:

• Lucky, a pseudonymous analyst, predicted a “monster rally,” forecasting ETH could reach $3,800 in the short term and potentially climb to $4,600 by February 2025.
• Another analyst, Satoshi Flipper, pointed out that Ethereum is breaking out of an 8-month descending channel, suggesting the price could surge to $4,000 with little resistance ahead.
• Short-term resistance is expected between $3,100 and $3,200, according to market commentator Income Sharks.

At the time of writing, Ethereum was priced at $3,040, marking a 4.2% increase in the past 24 hours. It remains down by approximately 37% from its all-time high of $4,878, reached in late 2021.

As market sentiment remains bullish, Ethereum’s rally is positioning it for potentially higher prices, with analysts closely watching how the $3,000 level holds in the coming weeks.