In the last week, ETHA has been the most dominant reason for driving the total inflows accumulating $800 million in inflows at the time of the past five trading sessions.
Also, an analyst has forecasted that Ethereum could gain a new all-time high, aiming at $15,937 by May 2025.
At the time when BlackRock Ethereum ETF inflows surged, the selling pressure from Ethereum whales continued at the time of the recent ETH price surge.
The BlackRock Ethereum ETF (ETHA) has been the only one that is dominating the inflows into the US Ether ETF market going over $2.6 billion in net inflows since it was launched. On December 5, ETHA recorded the highest-ever daily inflows at around $292 million driving the net inflows to over $428 million.
The price of ETH is hovering around the $3,900 mark seeking a potential spread out to all-time high levels of $5,000 and over that. iShares Ether ETF (ETHA) from BlackRock recorded the highest daily inflows since its beginning on December 5 at $292 million.
The most dominant reason
In the last week, ETHA has been the most dominant reason for driving the total inflows accumulating $800 million in inflows at the time of the past five trading sessions. In the current scenario, the BlackRock Ethereum ETF has 837.5k ETH whose worth is estimated to be $3.27 billion and has positioned itself as a dominant player in the market.
Since its onset in July 2024, BlackRock iShares Ethereum ETF has solely gained $2.6 billion in total inflow, the data from Farside Investors suggests. The increasing momentum throws light on growing investor interest in Ethereum-focused financial products.
A new all-time high of ETH
As per the data from December 5, the net inflows over US Ether ETFs also went over $1 billion for the first time and are now standing at $1.3 billion. The President of the ETF store, Nate Geraci revealed that the ETFs have reached this milestone regardless of having many hurdles like restrictions on staking abilities, $3.5 billion outflows from ETHE of Grayscale, and the lack of options trading for Ether ETFs.
Regardless of the 9% gains on the weekly chart, the price of Ethereum is now at a major resistance of $3928, going over this can set the eyes on $5,000. A prominent crypto analyst highlights that ETH is near a breakout from a three-year-long triangle consolidation pattern.
As per the analyst, Ethereum could also leave a seven-year trading area. Also, the analyst forecasts that Ethereum could gain a new all-time high, aiming at $15,937 by May 2025. At the time when BlackRock Ethereum ETF inflows surged, the selling pressure from Ethereum whales continued at the time of the recent ETH price surge.
