Yeliz Akmaca 
Ethereum (ETH) has recently caught a strong upward trend, driven by both technical analysis indicators and growing institutional investor interest. In particular, increasing capital inflows into spot ETH ETFs and price movements are sending positive signals for ETH’s future.
Record Inflows into Spot Ethereum ETFs
In recent weeks, spot Ethereum ETFs have seen significant capital inflows. Major investment firms like Grayscale, Fidelity, and Bitwise have recorded net inflows exceeding $110 million into their ETF products. Grayscale’s Ether ETF attracted $43.7 million, Fidelity’s FETH product saw $42.2 million, and Grayscale’s mini Ether ETF secured $18.7 million in investments. This reflects growing institutional confidence in Ethereum.
As a result of these developments, the coin’s market capitalization has surged by approximately $100 billion over the past 15 days, reaching $327 billion. With this rise, ETH has surpassed corporate giants like Nestle, Alibaba, and Coca-Cola, even overtaking Bank of America. This leap demonstrates the strengthening perception of Ethereum among investors.
First-Day Performance of ETFs
On the first trading day of spot Ethereum ETFs, total net inflows reached $107 million. BlackRock’s iShares ETH Trust led with $267 million, followed by Bitwise Ethereum ETF with $204 million and Fidelity ETH Fund with $71 million. However, Grayscale’s ETH Trust experienced outflows of $484 million due to high management fees. Investors’ preference for lower-fee and more liquid products highlights increasing competition in the ETF sector.
Analyst Titan of Crypto draws attention to price gaps formed on the Chicago Mercantile Exchange (CME). These gaps occur when there is a difference between the weekly closing price and the opening price of the following week. According to Titan, these gaps are typically “filled” over time. This suggests that Ethereum’s upward trend could continue. Specifically, the CME gap at the $3,200 level indicates that the price may reach this point.
Renowned analyst Michael van de Poppe shared his insights on ETH on May 22. He noted that ETH broke through the $2,400 resistance zone. He also suggested that, following Bitcoin’s lead, ETH could climb above $3,000. Van de Poppe emphasized that ETH and Bitcoin price movements generally align.
Additionally, ETH rose by 5.6% in the last 24 hours, reaching $2,666.
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