Ethereum Could Approach Record High Amid ETF Outflows and Diverging Institutional Buying

• ETH nears all-time high: $4,737 vs ATH $4,891

• Spot ETF outflows reached ~111k ETH while select institutions increased exposure.

• On-chain and market indicators (RSI 62.8, MACD weakening) point to momentum with potential corrections.

Ethereum price nears ATH as mixed institutional ETF outflows meet large strategic buys; read how flows, on-chain data, and technicals shape the next move. Learn more now.

What is driving Ethereum’s recent surge?

Ethereum price is rising due to a convergence of bullish buying from large investors and macro-market catalysts, even as spot ETF outflows persist. Renewed demand from firms like BlackRock and selective on-chain accumulation has combined with momentum following speeches and macro events to push ETH close to its historic peak.

How are institutional flows affecting Ethereum?

Institutional flows show a divergence: U.S. spot ETFs recorded roughly 111k ETH in outflows, yet major players made sizable purchases. BlackRock bought about $233 million of ETH, and a high-profile fund acquired 1,076 ETH for $5.025 million USDC.

These mixed signals create short-term volatility but suggest distribution of conviction — some institutions are trimming positions while others build strategic exposure based on long-term views.

Why is ETH still advancing despite ETF outflows?

Institutional buying and on-chain accumulation by selective large players offset ETF outflows, creating upward pressure on price. Market momentum and macro catalysts, such as significant policy speeches, also provide buying opportunities that can push ETH toward prior highs.

ETH surges ahead

Ethereum traded at $4,737 at press time, just below the all-time high of $4,891 recorded in November 2021 (CoinMarketCap data). Intraday technicals showed an upward move followed by consolidation as bulls defended higher levels.

The RSI sits at 62.8, signaling strong momentum but not yet extreme overbought conditions. The MACD histogram has turned red, implying some waning bullish momentum that could invite short-term pullbacks.

Source: TradingView

Mixed signals from institutions

While Ethereum chases new highs, institutional activity is bifurcated. U.S. spot ETFs recorded approximately 111,000 ETH in outflows, per on-chain and fund flow data. At the same time, institutional buyers made notable purchases.

Source: Glassnode

BlackRock’s reported $233 million purchase and other on-chain evidence of accumulation (Arkham Intelligence data referenced) indicate that select large holders continue to take positions even as ETF flows retreat.

Source: Arkham Intelligence

Another notable on-chain purchase: a fund acquired 1,076 ETH for $5.025 million USDC at an average price near $4,670, highlighting continued strategic exposure by some institutional players.

Big names put their foot down

Influential market voices remain bullish. Arthur Hayes first declared “$ETH = $5,000” in December 2023 and has been active in public trading, using swings to increase exposure as prices rise.

Source: X

In interviews, Hayes reiterated conviction, arguing technicals and momentum support higher prices and forecasting a potential multi-fold increase over the cycle. These opinions, combined with actual wallet activity, reinforce a bullish narrative.

Frequently Asked Questions

Is Ethereum at a new all-time high today?

Ethereum is trading close to its previous peak but has not surpassed the November 2021 all-time high of $4,891 at the time of this report. Price action remains volatile with potential for retests of the ATH.

How should retail investors interpret current ETF outflows?

Retail investors should view ETF outflows as one data point; combine fund flow data with on-chain accumulation, technical indicators and macro context before making decisions.

Key Takeaways

• Price action: ETH is near its historical peak with momentum but possible short-term corrections.
• Flows: Spot ETFs recorded ~111k ETH outflows while select institutions increased exposure.
• Action: Monitor flows, on-chain data and RSI/MACD signals to time entries and manage risk.

Conclusion

Ethereum’s recent rally reflects a nuanced market where institutional flows diverge: heavy ETF outflows coexist with large strategic buys. Technical indicators show momentum but also caution, so traders should combine flow data, on-chain signals and technicals. COINOTAG will continue monitoring developments and providing updates.