Daniel Walker
US-based Ethereum ETFs have achieved a remarkable milestone by attracting over $1 billion in net inflows on August 11, continuing a strong positive streak that has lasted for a month. According to SoSoValue data, this marks the largest single-day capital injection into spot Ethereum ETFs since their launch.
BlackRock’s ETHA ETF dominated the inflows with approximately $640 million, while Fidelity’s FETH ETF contributed about $277 million. Other market players recorded smaller gains: Grayscale’s ETH and ETHE ETFs pulled in $66 million and $13 million, respectively, with remaining funds seeing inflows below $10 million.
The total trading volume for these ETFs exceeded $2.7 billion, making it one of the most active trading days in recent months. All nine Ethereum-focused U.S. ETFs have now experienced five straight days of positive inflows, underscoring robust institutional demand.
Ethereum Price Breaks $4,000 Barrier, Nears Multi-Month High
This surge in ETF investments coincided with Ethereum’s breakthrough above the $4,000 resistance level, reaching a multi-month peak of $4,278 at the time of writing—just about 8% below its all-time high. Despite a minor daily dip of 0.31%, Ethereum’s performance remains strong, boasting gains of 17% over the past week and 45% in the last month.
Will Ethereum Retake Its Record High?
Market experts and investors are setting ambitious targets, anticipating that Ethereum may soon challenge and surpass its previous all-time high of $4,815. Several factors are fueling this optimism:
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Record inflows into Ethereum ETFs
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Significant purchases by large institutional holders and crypto whales
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Corporate Ethereum holdings surpassing $14 billion, while whale wallets steadily accumulate more ETH.
This combined buying pressure is expected to boost Ethereum’s momentum toward new price heights, increasing confidence among traders.
On-Chain Behavior Signals Growing Holder Confidence
Analyst Ali Martinez notes a notable shift in the behavior of long-term Ethereum holders over the last four months—from a “capitulation” phase marked by selling, to a “belief” phase characterized by holding or accumulating ETH. This behavioral change often correlates with reduced selling pressure and tends to precede sustained upward price movements.
Technical Outlook: Key Levels to Watch
Ethereum has been trading within a clear upward channel since the start of August, with daily charts showing strong movement above key moving averages. The $4,300 level currently acts as a short-term resistance, where price action shows some hesitation. A decisive break above this zone could propel ETH toward $4,500, which aligns with the channel’s upper boundary.
Martinez highlights that surpassing $4,300 might validate a further advance toward $5,241. However, the Relative Strength Index (RSI) at 72.88 signals that ETH is in overbought territory, suggesting that minor pullbacks or sideways trading may occur before the next rally phase.
Support Levels in Case of a Correction
If the uptrend falters, watch the $3,835 level near the 20-day exponential moving average (EMA), which stands as a critical support area that could stabilize prices.
