Spot Ethereum exchange-traded funds (ETFs) have recorded their highest-ever weekly inflows as Ethereum surpassed $3,000 for the first time since August. According to data from SoSovalue, $154.66 million flowed into Ether-based ETFs over the past week, marking the highest increase since the SEC approved these products in July.
This surge in inflows began after Donald Trump’s victory in the U.S. presidential election, igniting a market rally as investors grew hopeful about more favorable regulations for digital assets. Since November 6, Ethereum ETFs have seen three consecutive days of positive flows, totaling over $217 million. The majority of the inflows occurred on November 8, with four ETFs drawing in $85.86 million, the highest since early August.
Key ETF inflows include:
- Blackrock’s ETHA: $59.8 million, 2-day inflow streak.
- Fidelity’s FETH: $18.4 million, 3-day inflow streak.
- VanEck’s ETHV: $4.3 million, 2-day inflow streak.
- Bitwise’s ETHW: $3.4 million, 2-day inflow streak.
Ethereum Targets $4,000: Analysts Optimistic
Ethereum (ETH) broke above $3,000 on November 8, reaching a three-month high. After a low of $2,395 on November 5, ETH began climbing, fueled by the positive outcome of the U.S. election, a Fed rate cut, and growing ETF inflows. Ethereum outpaced Bitcoin, with weekly gains exceeding 21%.
Analysts are now forecasting that Ethereum could rise above $4,000. Pseudonymous analyst Lucky told his 2.2 million followers that a “monster rally” is coming, with a potential short-term target of $3,800 and long-term predictions pushing ETH to over $4,600 by February 2025.
Analyst Satoshi Flipper noted that Ethereum is breaking out of an 8-month descending channel, suggesting that ETH could reach $4,000 with minimal resistance. Meanwhile, Ethereum faces short-term resistance around the $3,100 to $3,200 mark, as noted by market commentator Income Sharks.
At the time of writing, ETH was trading at $3,040, marking a 4.2% increase in the last 24 hours. However, it remains down about 37% from its all-time high of $4,878 reached in late 2021.
