Ethereum ETFs Hit Record $295M Inflows, Signaling Renewed Confidence
- U.S. spot Ethereum ETFs sw rcord $295.5 million inflow, surpssing prvious milstons.
- Ethereums surg in inflows is ttributd to lction outcoms nd shift in invstor sntimnt towrds digitl ssts.
- Ethers pric hit 14-wk high of $3,384, with momntum building towrd potntil $4,000 trgt.
U.S. spot Ethereum xchange-traded funds (ETFs) rcordd thir highst singl-dy inflow on Novmbr 11. This milston rflcts rnwd confidnc in Ether s th crypto mrkt gins momntum post-rcnt politicl dvlopmnts. Th dys inflows rchd $295.5 million, surpssing th prvious pk of $106.6 million on th ETFs lunch dy in July.
Fidelitys Ethereum Fund (FETH) ld th surg, scuring $115.5 million, followd by BlckRocks iShrs Ethereum Trust ETF (ETHA) with $101.1 million. Grayscales Ethereum Mini Trust ETF (ETH) took third plc t $63.3 million, whil Bitwiss Ether ETF (ETHW) postd $15.6 million. No nw inflows wr rcordd for ny othr U.S. spot Ether ETFs on tht dy.
Election Outcome Boosts Ethereum Optimism
Sinc lunching in July, Ether ETFs hv ttracted nrly $3.1 billion in inflows, dspit significnt outflows from th Grayscale ETF, which rcordd losss of round $3.13 billion. BlckRocks ETHA lds with inflows xcding $1.5 billion, rflcting growing optimism mong invstors nticipting mor crypto-frindly rgultory nvironmnt following rcnt U.S. lction rsults.
Industry xprts suggst th lction outcom could fvor Ether nd similr digitl ssts. CK Zhng, co-foundr t ZX Squrd Cpitl, notd Ethereum nd Soln could prform wll if pro-crypto dministrtion ctivly promots blockchin nd cclrts finncil digitliztion.
Rchl Lucs, crypto nlyst t BTCMrkts, obsrvd shift in invstor sntimnt, highlighting tht xpcttions for lnint rgultory stnc hv rducd concrns, ncourging bts on Ethereum nd DFi. Sh ddd tht continud optimism could sustin or incrs inflows s institutionl invstors dpt to rgultory chngs.
Ethereum Eyes $4,000 as Momentum Builds Up
Alongsid this ETF inflow surg, Ether sw n 8.4% ris, rching 14-wk high of $3,384, ccording to CoinGcko dt. This incrs ligns with brodr mrkt upswing, with prics rising nrly 10% ovr th sm priod. Ethereums momntum could ld it to th $4,000 mrk s invstors nticipt rnwd highs.
Crypto trdr Cptin Fibik suggsts Ether is nring brkout from its brodning wdg pttrn. Should this brkout occur, Fibik prdicts bullish run towrd $5,450, signling significnt growth potntil for Ether in th coming months.
It currntly fcs immdit rsistnc t $3,650. A brkthrough byond this lvl could propl th cryptocurrncy to $4,090. On downturn, support xists round $3,250, with furthr support t $2,950 nr th 200-dy moving vrg. A dpr pullbck could tst th $2,720 lvl, historiclly strong buy zon.
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Read more: https://www.tronweekly.com/ethereum-etfs-hit-record-295m-inflows/
Text source: TronWeekly
