Led by BlackRock and Fidelity, Ethereum ETF products have recently seen strong capital inflows, with institutional investors' interest in Ethereum significantly rebounding. On December 23, the two giants' Ethereum ETFs recorded a total inflow of $130 million, injecting confidence into the market.
BlackRock and Fidelity lead the capital inflow
According to the latest data:
BlackRock's ETHA has achieved a capital inflow of $89.5 million, with a growth rate of 1.3%, bringing its cumulative inflow to $3.43 billion, accounting for 0.9% of Ethereum's total supply.
Fidelity's FETH has accumulated inflows of $46.4 million, securing the second position in the market.
Bitwise's ETHW only recorded $963,700, and the remaining Ethereum ETFs did not record any capital inflow. Clearly, ETHA and FETH are the absolute main forces behind this Ethereum ETF resurgence.
As of now, the total inflow of the Ethereum ETF since its launch has exceeded $2.46 billion. Particularly, in the past eight days, inflows reached $400 million, setting a historical high since the launch of trading products in July 2024.
Ethereum's market performance: holding the support level, signaling a breakout
Despite recent market adjustment pressures, Ethereum has shown significant resilience. Even under bearish market conditions, ETH has remained steady at the $3,500 support level and has risen 5.27% in the past 24 hours, currently priced at $3,511.66. Analysts point out that ETH's technical indicators show strong bullish signals, including the classic inverted head and shoulders pattern, suggesting a potential strong breakout.
Another trend worth noting is the increasing number of long-term holders of ETH. As of now, the total cumulative holdings of ETH have exceeded 20 million, which not only indicates investors' confidence in Ethereum but may also lead to supply tightening, further intensifying price pressure.
ETF inflows and institutional participation may push ETH to break historical highs
As BlackRock and Fidelity continue to attract funds, Ethereum may see a new round of price increases driven by institutional investors:
Supply shocks: The concentration of ETH in wallets is increasing, with new buyers tending to hoard coins, leading to a reduction in circulating tokens. This supply tightness may catalyze ETH price increases.
Institutional bullish sentiment: Institutional interest in Ethereum is warming up, and the ETF inflow data is undoubtedly a reflection of increased market confidence.
Positive policy expectations: The incoming Donald Trump administration is believed to be more favorable towards the crypto market, providing policy support for Ethereum and cryptocurrency ETF products.
Ethereum's next milestone
Bloomberg senior ETF analyst Eric Balchunas holds an optimistic view on the prospects of the Ethereum ETF. He believes that with the continuous influx of funds, ETH is expected to surpass the historical high of $4,878 reached in 2021, and may even reach the analyst's predicted $6,000 under supply shocks and institutional drives.
The success of the Ethereum ETF has not only boosted market confidence but also showcases the gradual move of cryptocurrencies towards mainstream finance. The coming months will be a critical observation period for ETH, and BlackRock and Fidelity have undoubtedly laid the groundwork for Ethereum's next rise.
What do you think, can Ethereum leverage this wave of capital inflow to reach new highs? Feel free to share your views in the comments!
#“圣诞老人行情”再现 #ETH #比特币战略储备 #加密市场盘整 #比特币市场波动观察 $BTC $ETH $SOL
