Ethereum ETFs Hit Record $85M Inflow After Trump Win; ETH Price Eyes $4k
Mustafa Mulla9 Nov 20242 min read
Spot Ethereum ETFs in the U.S. have just seen their largest inflows in six weeks, thanks to Donald Trump’s election win and the recent Federal Reserve rate cut. On November 8, these nine ETFs received a net inflow of $85.9 million. This marks a return of interest in Ether ETFs after several weeks of outflows. Market experts are now optimistic, with some predicting that Ethereum could hit $4,000 by the end of the month.
Here’s more you need to know.
Ethereum ETF Hit Record High Inflows
Ethereum ETFs are seeing a surge in inflows, fueled by Bitcoin’s record-breaking rise above $77,000. On November 8, spot Ethereum ETFs saw their highest weekly inflow of $85.9 million, pushing total weekly inflows to $155 million, according to Farside.
This surge followed earlier inflows of $52.3 million on November 6 and $79.7 million on November 7. However, these gains came after a major outflow of $63.2 million on November 4, indicating a shift in market sentiment.
Although these inflows are still smaller than those into spot Bitcoin ETFs, they signal a positive trend for Ethereum. With altseason gaining momentum, it’s likely that these inflows will continue, strengthening Ethereum’s position in the market.
BlackRock’s Ether ETF Inflows
BlackRock, the world’s largest asset manager, just saw its biggest daily inflows into its spot Ether ETF in 94 days. On November 8, BlackRock’s iShares Ethereum Trust ETF (ETHA) received $60.3 million, the highest since August 6.
This surge comes as Ether’s price hovers near $3,000 for the first time since August, fueling excitement that Ethereum could be on the brink of a major rally.
Ether’s Aim For $4000
With the Fed lowering interest rates to 4.5%, Ethereum becomes more attractive to investors, especially as the Ethereum staking yield has remained steady at 4%, making it competitive with traditional bonds.
Looking at the weekly chart ETH has already surged 22% this week, currently trading around $3,044, and is now aiming to break key resistance levels. If it surpasses $3,500, it could rally toward $4,093 and possibly even reach a new all-time high.
However, on the flip side, a drop below $2,817 could derail this bullish outlook and take to retest the $2600 support level.
As Ethereum’s momentum builds, all eyes are on the upcoming weeks, where a major breakout could be on the horizon.
