Thomas Daniels
Ethereum ETFs saw unprecedented inflows this week as ETH broke past $3,000, signaling renewed investor confidence in the cryptocurrency market. According to SoSovalue data, Ether-based ETF products attracted $154.66 million over the past week, marking the highest influx since the U.S. Securities and Exchange Commission (SEC) approved these offerings in July. This rally follows Donald Trump’s recent victory in the U.S. presidential election, sparking optimism around potential regulatory shifts under the incoming administration that could benefit digital assets.
Record Weekly Inflows Across Major Ethereum ETFs
Since November 6, Ether ETFs have enjoyed three consecutive days of positive flows, accumulating $217 million in total. November 8 saw the most significant movement, with four ETF offerings amassing $85.86 million, a peak level last seen in August. Blackrock’s iShares Ethereum Trust ETF (ETHA) led the surge with a $59.8 million two-day inflow, followed by Fidelity’s FETH at $18.4 million, VanEck’s ETHV with $4.3 million, and Bitwise’s ETHW at $3.4 million. Meanwhile, 21Shares CETH, Invesco’s QETH, Franklin Templeton’s EZET, and Grayscale’s ETHE and Mini Trust saw no new inflows.
Bullish Momentum Targets $4,000 for Ethereum
After hitting a weekly low of $2,395 on November 5, Ethereum surged past $3,000 on November 8, reaching a three-month high. Analysts attribute this rally to positive U.S. election outcomes, recent Fed interest rate cuts, and intensified ETF inflows. Ethereum has outpaced Bitcoin in recent gains, posting over 21% in weekly growth. With bulls holding above the $3,000 threshold, analysts predict ETH may advance beyond $4,000 if momentum persists.
Popular analyst Lucky, with a following of over 2.2 million on X, suggests Ethereum could reach $3,800 soon and possibly $4,600 by early 2025. Analyst Satoshi Flipper highlights an 8-month descending channel pattern that Ethereum appears to be breaking out of, indicating potential for a swift rise to $4,000 with minimal resistance. However, Income Sharks warns of resistance levels at $3,100-$3,200 that ETH might face in the short term, hinting at a potential trend reversal.
At the time of publication, Ethereum was trading at $3,040, marking a 4.2% increase over the past 24 hours. Although it remains approximately 37% below its 2021 all-time high of $4,878, the recent surge in ETF inflows suggests robust market interest, positioning Ethereum for further gains.
