{"id":2544,"date":"2024-12-18T08:00:30","date_gmt":"2024-12-18T08:00:30","guid":{"rendered":"https:\/\/coinsrise.net\/blog\/ethereum-spot-etfs-witness-unbroken-16-day-inflow-streak-new-eth-ath-soon\/"},"modified":"2024-12-18T08:00:30","modified_gmt":"2024-12-18T08:00:30","slug":"ethereum-spot-etfs-witness-unbroken-16-day-inflow-streak-new-eth-ath-soon","status":"publish","type":"post","link":"https:\/\/coinsrise.net\/blog\/ethereum-spot-etfs-witness-unbroken-16-day-inflow-streak-new-eth-ath-soon\/","title":{"rendered":"Ethereum Spot ETFs Witness Unbroken 16-Day Inflow Streak: New ETH ATH Soon?"},"content":{"rendered":"

Ethereum spot exchange-traded funds (ETFs) have logged 16 consecutive days of positive daily inflows, renewing optimism for ETH’s potential new all-time high (ATH) in the coming weeks. However, for ETH to reach this milestone, it must surpass the critical resistance level of $4,000.<\/p>\n

Ethereum Spot ETFs Attracting Consistent Inflows<\/h2>\n

According to data from SoSoValue, Ethereum spot ETF inflows have remained consistently positive since November 22. The cumulative net inflows total $2.32 billion, with a significant $1.5 billion added between November 22 and December 16 alone.<\/p>\n

\"ETH<\/p>\n

Breaking it down by weekly inflows, the week ending December 13 saw net inflows of $854.85 million, closely followed by $836.69 million during the week ending December 6. Moreover, the total net assets held by Ethereum ETFs have climbed to $14.28 billion, which represents approximately 2.93% of ETH\u2019s total circulating supply.<\/p>\n

Grayscale\u2019s Ethereum Trust (ETHE) ranks as the largest holder with $5.87 billion in net assets, followed by Blackrock\u2019s iShares Ethereum Trust (ETHA) with $4.02 billion. These strong inflows into Ethereum ETFs have bolstered bullish sentiment, with Ethereum bulls anticipating a possible rally to a new ATH for the second-largest cryptocurrency by market cap.<\/p>\n

Crypto analyst Momin Saqib took X to share his thoughts on ETH price action. The analyst noted<\/a> that ETH looks poised to break through the local highs of the $4,000 range and is eyeing the $4,500 price level. He added:<\/p>\n

\n

Ethereum inflows have been coming in non-stop for the last few weeks! After seeing $BTC at $107K…. I think institutions don’t have much options left to bet on higher upside of crypto industry! Higher!<\/p>\n<\/blockquote>\n

\"ethereum\"<\/p>\n

Looking at Ethereum\u2019s weekly chart, the digital asset has made four significant attempts to break through the $4,000 resistance level. While it briefly surpassed this level during its second attempt, creating its current ATH of $4,878, it ultimately proved to be a false breakout, followed by a prolonged bear market over the next two years.<\/p>\n

Analyst Rekt Capital noted that ETH\u2019s post-breakout retest of the $3,100 price level was successful, propelling the cryptocurrency back into the $4,000 zone. They highlighted that ETH has held above the $4,000 zone as support for the second consecutive week, a key development that could pave the way for further upward momentum.<\/p>\n

\"ethereum<\/p>\n

Despite The Potential Upside, ETH Traders Remain Cautious<\/h2>\n

While strengthening fundamentals, bullish technical indicators, and persistent ETF inflows paint a positive picture for Ethereum, some analysts remain cautiously optimistic about ETH\u2019s short-term price action.<\/p>\n

For instance, analyst CryptoBullet emphasized that ETH may see a quick wick to $3,700 before rebounding. The analyst added that ETH\u2019s ability to hold above key resistance levels indicates its strong bullish momentum.<\/p>\n

Another factor potentially dampening short-term optimism is Justin Sun, founder of Tron (TRX), who recently unstaked $208 million worth of ETH from Lido Finance. This move has raised concerns about potential selling pressure. ETH trades at $3,947 at press time, down 0.2% in the past 24 hours.<\/p>\n

\"ethereum\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum spot exchange-traded funds (ETFs) have logged 16 consecutive days of positive daily inflows, renewing optimism for ETH’s potential new all-time high (ATH) in the coming weeks. However, for ETH to reach this milestone, it must surpass the critical resistance level of $4,000. Ethereum Spot ETFs Attracting Consistent Inflows According to data from SoSoValue, Ethereum…<\/p>\n","protected":false},"author":1,"featured_media":2545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[62,10,90,63,43,45,1412,1352,56,47,301],"class_list":["post-2544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-altcoin","tag-bitcoin","tag-blackrock","tag-cryptocurrency","tag-eth","tag-ethereum","tag-ethereum-ath","tag-ethereum-etf","tag-ethereum-news","tag-ethusdt","tag-grayscale"],"_links":{"self":[{"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/posts\/2544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/comments?post=2544"}],"version-history":[{"count":0,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/posts\/2544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/media\/2545"}],"wp:attachment":[{"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/media?parent=2544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/categories?post=2544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/tags?post=2544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}