Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereum’s institutional narrative is strengtheningas US-based Spot ETF trackers witnessed another week of inflows last week. BlackRock’s ETHA fund captured the majority of this activity with more than half a billion dollars in new investments, while other ETFs struggled with minor outflows.
At the same time, technical patterns are aligning with this buying pressure, which has given many analysts confidence that the Ethereum price could be preparing to push towards itsall-time high in the coming weeks. Related Reading Is XRP Ready For Its Most Powerful Rally Yet? Analysts See $20 Ahead 5 hours ago Ethereum ETFs Register Second Consecutive Inflow Week
Last week was another positive weekfor Spot Ethereum ETFs. Across all issuers in the US, Spot Ethereum ETFs added $556.92 million in inflows during the week, making it the second consecutive week of positive institutional inflows. Cumulative inflows since launch are now over $13.9 billion, and these ETFs now hold $29.64 billion worth of Ethereum.
Interestingly, data from Farside Investor’s Spot ETF tracker reveal that the majority of last week’s institutional inflows went into BlackRock’s ETHA. The inflow numbers show that BlackRock’s ETHA product absorbed roughly $513 million in net inflows between September 15 and 19.
The largest portion came on Monday with over $360 million, followed by another $140 million inflow as the week drew to a close on Friday, which was enough to offset corresponding outflows from every other issuer that day. This shows how investors continue to favor BlackRock’s offering as the primary gateway for regulated Ethereum exposure.
Other issuers experienced a more mixed week. Fidelity’s FETH product posted sharp redemptions, most notably $53.4 million in outflows on Friday, September 19. However, these outflows were partially balanced by $159.4 million in inflows on Thursday. Bitwise and Grayscale also witnessed days of inflows, which was enough to cancel out minor outflows during the week.
Spot Ethereum ETF Flows: Farside Investors Technical Analysis Points To $5,000
Another week of institutional inflow could set the stage for bullish price action in the new week, which in turn would certify a bullish monthly close for Ethereum in September. In fact, analyses from different analysts have looked at multiple bullish patternsforming across different timeframes on the Ethereum price chart. ETHUSD now trading at $4,475. Chart: TradingView
One particularly notable observationcame from VasilyTrader on the TradingView platform, who highlighted encouraging signals on Ethereum’s shorter-term charts. His analysis of the 4-hour candlestick timeframe suggested that the recent pullback has now given way to a bullish confirmation. Related Reading Bitcoin Is ‘Digital Capital’ That Outpaces Traditional Assets—Michael Saylor 1 day ago
He identified a clear double bottom pattern that formed early last week, which was followed by a breakout from a falling wedge formation by Friday’s close. Based on these developments, VasilyTrader set his next price target at no less than $4,741.
Chart Image From TradingView: VasilyTrader
At the time of writing, Ethereum is trading at $4,485. According to crypto analyst Daan Crypto Trades, ETH is still on track to reach$5,000 as long as it holds above $4,400.
Featured image from Unsplash, chart from TradingView