Despite Grayscale’s Ethereum Trust experiencing cumulative outflows of over $2 billion, daily net inflows into U.S. spot Ethereum ETFs have recently turned positive. This shift in investment trends is attracting attention in the crypto community.

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Many analysts believe that Ethereum ETFs are likely to follow a trajectory similar to that of Bitcoin ETFs. This perspective suggests a potential upward movement for Ethereum’s price in the near future, driven by growing interest and investment in Ethereum-based financial products.

Ethereum ETF Flows and Market Movements

Spot Ether ETF flows have been inconsistent this week, with BlackRock and Grayscale leading the activity. On August 1, spot Ethereum ETFs saw a net inflow of $26.7 million, driven largely by an $89.6 million inflow into BlackRock’s iShares Ethereum Trust (ETHA), according to market data.

BlackRock’s ETHA ETF has shown strong performance, with $89 million in inflows over the past 24 hours, bringing its total net inflows to over $710 million since its launch. In contrast, Grayscale’s ETF has seen a decline in outflows. Fidelity’s FETH also recorded minor inflows of $11.4 million, contributing to the overall positive trend in Ethereum ETF investments.

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With Grayscale’s ETF outflows decreasing, it may be an opportune time for Ethereum to attract early investors. Recent whale activity has increased, with Lookonchain reporting that three wallets linked to Elwood deposited 19,500 ETH, worth around $64 million, into Binance over the past two days. These movements are believed to impact recent ETH price fluctuations.

Source: X

Additionally, today’s expiration of Ethereum options, involving $600 million in contracts, adds another layer of uncertainty. With a put-call ratio of 0.55 and a max pain point of $3,300, the market is expected to experience further volatility as traders adjust their positions in response to these large-scale expirations

Ethereum Price Sensitivity and Future Outlook

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In light of recent market sensitivity, analysts such as Steno Research’s Mads Eberhardt predict that the slowdown in outflows from Grayscale could potentially drive up Ethereum (ETH) prices. At the same time, Kaiko’s Will Cai has observed that ETH’s price remains highly sensitive to ETF inflows.

Currently, ETH is trading around $3,200, down from its recent high of $4,000 on March 14. The market sentiment has been shifting due to ongoing geopolitical events. Unlike Bitcoin ETFs, Ethereum ETFs have not experienced similar inflows, partly because the SEC has not approved staking for ETH. The total value locked on the Ethereum network remains steady at 17.8 million ETH, reflecting limited growth.

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Despite these challenges, strong support seen in July indicates that buyers are still active, which could potentially push Ethereum prices up to $4,500. As of now, Ethereum is trading at approximately $3,165, suggesting both opportunities and uncertainties in the near-term market outlook.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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