Recent data shows that U.S.-listed Exchange-Traded Funds (ETFs) tracking Ethereum have achieved record inflows, highlighting growing investor interest and positive expectations for ETH.
Record Inflows into Ethereum ETFs
On August 11, Spot Ethereum ETFs recorded $1.02 billion in net inflows. This represents the highest single-day inflow since their launch, extending a month-long positive trend. Major contributions came from BlackRock's fund with approximately $640 million, followed by Fidelity's fund with about $277 million.
Prospects for ETH Growth
With these record inflows, analysts are optimistic about Ethereum's potential to retest its all-time high of $4,815. Increased corporate holdings and significant purchases by major investors are underpinning a bullish outlook for ETH, currently trading at $4,278, just 8% below its historical peak.
Technical Analysis and Current Support Levels
From a technical standpoint, ETH has shown a positive trend, breaking above all major moving averages. The current resistance level is around $4,300. A decisive break above this level could set the stage for a move towards $4,500. Key support is identified at $3,835.
The record inflows into Ethereum ETFs, coupled with positive market dynamics and active purchases by major investors, create an optimistic forecast for Ethereum in the near future.
