The inflow of the spot Ethereum ETF has significantly increased, reaching $155 million this week, with ETH price rising 18% and breaking through $3000.
The inflow of the Ethereum spot ETF has accelerated again, especially after Donald Trump's victory and the Federal Reserve's announcement of a 25 basis point interest rate cut this week. Over the past three consecutive days, the Ethereum ETF recorded net inflows, with total outflows decreasing from a peak of $550 million a few weeks ago to $324 million.
Ethereum Spot ETF Once Again Gaining Favor
As Bitcoin reached a record high of over $77,000, Ethereum (ETH), the largest altcoin, also gained strong attraction. Consequently, the inflow of the spot Ethereum ETF rose slightly again, reaching a weekly high of $85.9 million on Friday, November 8. Thus, following Trump’s victory, the weekly inflow surged to $155 million.
Yesterday, the inflow of the BlackRock Ethereum ETF reached its peak at $59.8 million, followed by Fidelity's FETH at $18.4 million. Like ETHA, FETH continued to see healthy inflows this week. According to Farside Investors, with the latest developments, the total inflow of the BlackRock Ethereum ETF has reached the milestone of $1.4 billion.
However, compared to the inflow of the US spot Bitcoin ETF, this figure still pales in comparison. Nevertheless, this is a healthy development as inflows may further increase with the arrival of altcoin season.
Additionally, investors are closely watching the price development of Ethereum (ETH). Over the past week, Ethereum outperformed Bitcoin with an increase of 18%, while Bitcoin's increase was 9.9%. The ETH/BTC ratio has been in a downward trend for the past three years but is currently showing a healthy rise.
On the other hand, the U.S. Securities and Exchange Commission (SEC) has postponed its decision on the trading of spot Ethereum ETF options.
Will ETH price rise to $4000?
As the inflow of the Ethereum spot ETF trends towards health, investors are optimistic that this will further reflect in the future ETH price. At the time of writing, the price of Ethereum rose by 4.86%, breaking through the key resistance level of $3000. This is a critical breakthrough as Ethereum has surpassed the 200-day moving average (DMA), shifting market sentiment from bearish to bullish.
If the bulls can confidently hold these levels, further increases to $4000 are possible. Moreover, this Ethereum breakout occurred after a 90-day accumulation, showing a strong upward trend. Some analysts believe this could be the start of a super bull market, with gold prices reaching $15,000.
