US-listed exchange-traded funds (ETFs) that track Ethereum (ETH) have reached a new milestone, recording their highest single-day net inflow since their launch. The funds saw a combined net inflow of $1.02 billion on August 11, extending a month-long trend of positive gains.
This surge in inflows, primarily led by BlackRock’s ETHA ($640 million) and Fidelity’s FETH ($277 million), pushed the total trading volume of these ETFs past $2.7 billion. All nine U.S. spot Ethereum products have now recorded five consecutive days of positive inflows, indicating strong and growing institutional interest.
The record influx of capital comes as the price of Ethereum has surpassed the $4,000 mark. ETH is currently trading at $4,278, which is just 8% below its all-time high. The cryptocurrency has seen strong performance over the past month, with its price increasing by 45%.
Analysts are becoming more optimistic that ETH could soon retest and potentially break its all-time high of $4,815. This outlook is supported by several factors beyond the ETF inflows. Data shows that corporate holdings of ETH have surpassed $14 billion, and large investors, or “whales,” are steadily increasing their positions. Additionally, a shift in on-chain behavior indicates that long-term holders are now holding or buying ETH instead of selling, which could reduce selling pressure and support a sustained rally.
Technically, ETH has been in a clear upward trend, with its price breaking above all major moving averages. However, the Relative Strength Index (RSI) is currently in overbought territory, suggesting that a short-term pullback or a period of consolidation may occur before the next price increase. Analysts say that if ETH can decisively break above the $4,300 resistance level, it could reach $4,500 and eventually its all-time high.
