U.S.-listed exchange-traded funds tracking Ethereum have marked yet another major milestone, extending a month-long run of gains.
Summary
- Spot Ethereum ETFs saw $1.02 billion in net inflows in their latest trading session, the highest since launch.
- ETH is trading at $4,278, around 8% below its all-time high.
- Large-scale acquisitions and positive on-chain signals are strengthening a bullish outlook for ETH.
Spot Ethereum ETFs recorded a total net inflow of $1.02 billion on August 11, according to SoSoValue data. The numbers mark the funds’ largest single-day inflow since their debut, extending a month-long run of positive momentum.
BlackRock’s ETHA pulled the lion’s share of the flows with approximately $640 million, followed by Fidelity’s FETH with roughly $277 million. Other issuers posted more modest figures, with Grayscale’s ETH and ETHE pulling $66 million and $13 million, respectively, while the rest recorded under $10 million in inflows.
Combined ETF trading volume surpassed $2.7 billion, marking one of the strongest sessions in months. All nine U.S. products have now posted five consecutive days of positive flows, signaling strong institutional interest and demand.
The record influx of funds came as ETH (ETH) broke through year-long resistance to cross the $4,000 level, reaching a multi-month high. At the time of writing, Ethereum trades at $4,278, just 8% shy of its all-time high.
Despite sliding 0.31% on the day, its performance over the past week has been strong, with the asset up 17% and 45% on the week and month, respectively.
ETH to reclaim all-time high?
Investors and analysts are setting bold price targets for Ethereum, with expectations growing that the asset could retest its $4,815 all-time high and potentially break above it.
These projections are supported by multiple factors. Alongside record ETF inflows, large-scale acquisitions by corporate holders and whales are adding to the bullish outlook. Corporate ETH holdings have now surpassed $14 billion, with whale wallets steadily increasing their positions.
The combined buying activity is expected to serve as a catalyst for ETH’s push toward its all-time high, strengthening market confidence.
Another factor adding weight to the sentiment is shifting on-chain behaviour. According to analyst Ali Martinez, long-term ETH holders have shifted from a “capitulation” phase to a “belief” phase over the past four months. This means holders who were previously selling into weakness are now holding, or even accumulating, in anticipation of higher prices. This type of shift often reduces sell pressure and is often seen as a precursor to sustained rallies.
On the technical side, ETH has been climbing in a clear upward channel since the start of the month, with the daily chart showing a strong break above all major moving averages. The $4,300 zone is acting as short-term resistance, with price showing hesitation around this level.
A decisive break above $4,300 could trigger the next leg higher toward $4,500, aligning with the upper boundary of the current channel. According to Martinez, clearing this level would also validate a move toward $5,241.
However, the RSI at 72.88 shows the market is now in overbought territory, suggesting the potential for short-term pullbacks or sideways consolidation before the next leg higher.
If the current trend holds, ETH could test the $4,500 area, and a decisive move above that would put its all-time high within reach. On the downside, the $3,835 level, near the 20-day EMA, stands out as key support to watch if the rally cools.
