Ethereum ETF Inflows Remain Strong, Will ETH Price Break $2,700 Resistance Soon?

Updated 10 hours ago by · 2 mins read

Spot Ethereum ETFs recorded an additional $60 million in inflows this week, with BlackRock iShares Ethereum Trust (ETHA) dominating the space.

Spot Ethereum ETF inflows continue to remain strong this week, with another $60 million in inflows recorded on Wednesday.

BlackRock iShares Ethereum Trust (ETHA) dominated most of the flows at $55 million, while Bitwise ETHW came second at $5.23 million in inflows.

The BlackRock Ethereum ETF has witnessed massive inflows over the past month, with net inflows crossing $5.4 billion since its inception. Similar to the Bitcoin ETF space, BlackRock has been leading most of the inflows across all Ether ETF issuers.

The ETHA share price has also performed well since mid-April, gaining from the lows of $11 all the way to $21.5 in mid-June. As per the official BlackRock site, ETHA holds a total of 1,721,058 ETH, with net assets under management of $4.183 billion.

Although the Ethereum ETF inflows continued at a strong pace, the ETH ETH $2 408 24h volatility: 1.1% Market cap: $291.48 B Vol. 24h: $12.91 B price remains low, with investors expecting a breakout above $2,700 ahead. According to the on-chain data provided by Trader T, Ethereum ETFs have accumulated a total of 660K ETH within the price range of $2,200-$2,800.

Will Ethereum ETF Inflows Lead to ETH Price Rally?

The crypto community has been anticipating an ETH price increase as it oscillates between $2,400 and $2,700. Popular analyst Rekt Capital noted that ETH must break the immediate resistance at $2,500 soon to trigger an upside rally.

“Ethereum just needs a Daily Close above ~$2500 to start the reclaim process. Until then, ETH will meander between $2200-$2500,” noted the analyst.

On the other hand, the ETH price action currently shares a close resemblance to 2021, just ahead of the mega bull run. Popular analyst Crypto Patel noted that ETH could go parabolic, similar to how it went in 2021.

However, the analyst believes that this time the rally could be stronger and more profound. “This time, there’s more liquidity, stronger narratives, and institutional firepower behind it,” noted the analyst. According to the chart shared by Crypto Patel, if ETH price breaks out for a parabolic rally, it can shoot all the way to $8,000.

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