Spot Ethereum ETFs Breaks Nearly Two Weeks Downtrend With Positive Inflow, Price Spike Imminent?
Ethereum has seen renewed interest from investors, particularly in Spot Ethereum Exchange-Traded Funds (ETFs), with over $5.84 million in inflows reported after a period of stagnation. This marks the first positive inflow in nearly two weeks, driven largely by Blackrock’s Ethereum ETF, which contributed over $8.39 million. Fidelity's ETH ETF also saw a positive inflow of about $1.25 million, while other funds experienced zero inflows or outflows, including Grayscale's ETH ETF, which lost approximately $3.8 million. Despite this positive trend, significant sell-offs occurred among ETH whales, including a strategic sale by the Ethereum Foundation of over 35,000 ETH worth $93.8 million, leading to a 9% price drop shortly after. The Foundation retains about 275,000 ETH valued at $677 million.
