BlackRock and Fidelity Drive $130 Million Inflows into Ethereum ETFs

Ethereum ETF products saw a significant rebound on December 23, with BlackRock and Fidelity recording $130 million in inflows. BlackRock’s ETHA saw $89.5 million and Fidelity’s FETH received $46.4 million. These inflows indicate renewed investor confidence in Ethereum, which has shown resilience during market adjustments. As of now, Ethereum is priced at $3,511.66, and analysts remain optimistic about its potential to reach new all-time highs.

BlackRock’s ETHA inflow represents 1.3% of its total assets, bringing its cumulative inflow to $89.5 million. The fund’s net assets amount to $3.43 billion, accounting for 0.9% of Ethereum’s total supply. Similarly, Fidelity’s FETH has accumulated $46.4 million in inflows, while Bitwise’s ETHW recorded a cumulative inflow of $963,720. No other Ethereum ETFs reported inflows, highlighting the significance of ETHA and FETH in the market rebound.

Ethereum has demonstrated significant resilience during recent market adjustments, maintaining stability near the $3,500 support level. As of this writing, ETH is trading at $3,511.66, up 5.27% in the past 24 hours. The token has seen over 20 million ETH added, indicating long-term investor confidence and a trend of sustained growth. Analysts predict a potential breakout, with some forecasting prices could rise to $6,000 based on historical trends.

Continuous inflows from BlackRock and Fidelity could potentially drive Ethereum to new peak values. A tight supply, indicated by the concentration of ETH in wallets, and increased institutional investor participation suggest a positive outlook for Ethereum. The broader cryptocurrency market is expected to evolve with the upcoming changes in the regulatory environment, bolstered by confidence in Ethereum’s long-term potential.

Sentiment: Positive