CandleFocus Ethereum ETFs post record weekly inflows as ETH eyes $4,000
2024-11-09
Author: Content Editor
Spot Ethereum exchange-traded funds (ETFs) have seen their highest-ever weekly inflows, totaling $154.66 million, as the price of Ethereum surpasses $3,000 for the first time since August. The increase in inflows began after the U.S. presidential election, with market participants hopeful for more favorable regulations under the new administration. Blackrock's iShares Ethereum Trust ETF led the gains, while other offerings saw no flows. Analysts and investors are optimistic about Ethereum's future price, with targets suggesting a run above $4,000. However, Ethereum faces resistance levels between $3,100 and $3,200 in the short term.
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