Ethereum ETF Inflows Surge — Can ETH Break $2,700?

Key Notes

• Ethereum ETFs have accumulated 660K ETH within the $2,200-$2,800 range as per on-chain data.
• ETHA's total net inflows have surpassed $5.4 billion since inception, showcasing its leadership in the Ether ETF space.
• Analysts suggest ETH must break the $2,500 resistance for an upside rally, with comparisons to 2021's bull run.

Spot Ethereum ETF inflows continue to remain strong this week, with another $60 million in inflows recorded on Wednesday.

BlackRock iShares Ethereum Trust (ETHA) dominated most of the flows at $55 million, while Bitwise ETHW came second at $5.23 million in inflows.

Related article: BlackRock Ethereum ETF (ETHA) Sees First Outflow In A Month, ETH Price DropsThe BlackRock Ethereum ETF has witnessed massive inflows over the past month, with net inflows crossing $5.4 billion since its inception. Similar to the Bitcoin ETF space, BlackRock has been leading most of the inflows across all Ether ETF issuers.

The ETHA share price has also performed well since mid-April, gaining from the lows of $11 all the way to $21.5 in mid-June. As per the official BlackRock site, ETHA holds a total of 1,721,058 ETH, with net assets under management of $4.183 billion.

Although the Ethereum ETF inflows continued at a strong pace, the ETH

ETH $2 448

24h volatility: 0.9%

Market cap: $295.61 B

Vol. 24h: $17.94 B

price remains low, with investors expecting a breakout above $2,700 ahead. According to the on-chain data provided by Trader T, Ethereum ETFs have accumulated a total of 660K ETH within the price range of $2,200-$2,800.

Will Ethereum ETF Inflows Lead to ETH Price Rally?

The crypto community has been anticipating an ETH price increase as it oscillates between $2,400 and $2,700. Popular analyst Rekt Capital noted that ETH must break the immediate resistance at $2,500 soon to trigger an upside rally.

“Ethereum just needs a Daily Close above ~$2500 to start the reclaim process. Until then, ETH will meander between $2200-$2500,” noted the analyst.

On the other hand, the ETH price action currently shares a close resemblance to 2021, just ahead of the mega bull run. Popular analyst Crypto Patel noted that ETH could go parabolic, similar to how it went in 2021.

However, the analyst believes that this time the rally could be stronger and more profound. “This time, there’s more liquidity, stronger narratives, and institutional firepower behind it,” noted the analyst. According to the chart shared by Crypto Patel, if ETH price breaks out for a parabolic rally, it can shoot all the way to $8,000.

nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.