Ethereum ETF Inflows Surge Past $85 Million Amid Whale Sell-offs

  • After a period of sluggish demand, spot Ethereum ETFs have seen a notable resurgence in inflows following the Federal Reserve’s recent rate cuts.
  • The renewed interest from institutional investors is boosting Ethereum’s market confidence, despite significant whale sell-offs over the last week.
  • As inflows climb past $85 million, the Ethereum price remains resilient, hinting at a potential rally towards the $3,000 mark.

Discover the latest developments in Ethereum investments as spot ETF inflows surge past $85 million, counteracting whale sell-offs and signaling market strength.

Significant Uptick in Spot Ethereum ETF Inflows

This week, spot Ethereum ETF inflows have surged past $85 million after several weeks of net outflows. The Ethereum price has shown steady growth, hovering around $2,700 and eyeing a potential rise to $3,000. On September 27, inflows peaked at $58 million, with Fidelity’s FETH leading the pack with $42.5 million in inflows. BlackRock’s ETHA followed with $11.5 million, while Grayscale’s ETHE saw a substantial outflow of $10.7 million, according to Farside Investors.

Whale Sell-offs and Institutional Movements

Despite the positive ETF inflows, on-chain data reveals that major institutions have offloaded their ETH holdings amidst the recent price rally. LookonChain data indicates significant transactions, such as Cumberland depositing 11,800 ETH worth $31.88 million into Coinbase, and ParaFi Capital transferring 5,134 ETH valued at $13.83 million from Lido to Coinbase Prime. Furthermore, an older Ethereum whale wallet cashed out 12,979 ETH for $34.3 million after nearly four months of inactivity, having sold a total of 15,879 ETH since May 2024, amounting to $43.5 million in gains at an average price of $2,739 per ETH.

Conclusion

In summary, the renewed inflows into spot Ethereum ETFs reflect a cautious yet optimistic market sentiment amidst aggressive whale sell-offs. This dynamic suggests that institutional interest is helping to stabilize Ethereum prices, counterbalancing the offloading activities by larger holders. As the market continues to navigate these conditions, the potential for Ethereum to breach the $3,000 mark remains within sight, contributing to an intriguing investment landscape for crypto enthusiasts and financial professionals alike.

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