The popular Ethereum spot ETF has become a "financial black hole"!
Recently, Ethereum (ETH) spot exchange-traded funds (ETFs) have been extremely popular! Since November 22, the capital inflow has been positive for 16 consecutive days, with a total amount of up to $2.32 billion. The market began to discuss: Can ETH take advantage of the momentum to hit the $4,000 mark, or even set a new all-time high (ATH)?
ETH spot ETF attracts 2.3 billion in 16 days!
According to SoSoValue data, this wave of "money-absorbing craze" has caused the cumulative net inflow of ETH ETF to continue to rise. As of December 16, the total net inflow reached US$1.5 billion, and the total net assets of Ethereum ETF have now exceeded US$14.28 billion, accounting for 2.93% of the total circulating supply of ETH.
Grayscale's Ethereum Trust (ETHE) remains a major player, holding net assets of $5.87 billion, followed by BlackRock's iShares Ethereum Trust (ETHA) with net assets of $4.02 billion.
This wave of aggressive capital influx has boosted the morale of Ethereum bulls. The continuous entry of institutional funds may signal that the moment for ETH to reach a historical high is approaching.
Can Ethereum prices return to their peak? Analysts express their views.
Renowned analyst Momin Saqib bluntly stated on X (formerly Twitter): 'In the past few weeks, Ethereum inflows have been unstoppable! Given Bitcoin's recent surge to $107,000, institutions clearly have no choice but to go all in on ETH!'
He believes ETH is likely to break through $4,000 and challenge the $4,500 price range. Looking at the weekly chart, Ethereum has attempted to break through $4,000 four times; will it succeed this time?
Another technical analyst, Rekt Capital, mentioned that ETH performed perfectly in the retest at $3,100 and has consistently remained above the $4,000 support area for two weeks, which could lay a solid foundation for the next upward movement.
Don't celebrate too early! Remain vigilant for short-term risks.
Although both the fundamentals and technicals are favorable, the market still harbors uncertainties. Analyst CryptoBullet predicts that ETH may quickly surge to $3,700 before pulling back, and reminds traders to pay attention to the critical resistance level.
Additionally, Tron founder Justin Sun recently withdrew $208 million worth of ETH from Lido Finance, raising market concerns about selling pressure. Currently, ETH is priced at $3,862, and caution is advised for the future.
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