Ethereum (ETH) is once again at the heart of investors’ attention, drawing in a staggering $1.59 billion inflow over the past week.
This marks the second-largest weekly inflow in Ethereum history amid growing optimism that US regulators will soon approve the Ethereum ETF. Overall, digital asset investment products raised $1.9 billion, showing a positive trend for the 15th consecutive week.
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This surge in capital has led to Ethereum prices rising 62% this month to $3,900, below the significant $4,000 breakout level.
Ethereum price trends to the upside on the daily chart, following a multi month downtrend. Source: ETHUSD on Tradingview
meanwhile, Bitcoin ETPS Faced with a $175 million outflow, it informed the capital turnover from BTC to ETH and other Altcoins. Analysts point out that genius and clarity act in the US as the main drivers of this trend, increasing clarity in regulations for Altcoin investment vehicles.
BlackRock and Sharplink increase Ethereum exposure
Institutional investors are doubling. BlackRock’s Ishares Ethereum ETF (ETHA) has surged beyond AUM by over $10 billion, becoming the third-largest ETF in the world.
At the same time, the Nasdaq went public. Sharplink Games It purchased 77,210 ETH worth approximately $295 million, raising the total ETH Treasury Department to over 438,000 ETH. This single purchase outperformed the entire network’s 30-day ETH issue, highlighting the aggressive accumulation trend between institutions.
Technical indicators and risks remain
Ethereum’s rally is further supported by bullish technical signals. The “golden cross” pattern appears, and the MACD shows strong upward momentum despite excessive RSI reads of 82.07, which is a level associated with potential price pullbacks.
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Solana and XRP saw an inflow of $311 million and $189 million, respectively, while Litecoin and Bitcoin Cash experienced minor outflows. Meanwhile, Ethereum’s on-chain activity skyrocketed by 288%, strengthening its trust in the role of the network as a major smart contract and Defi platform.
As regulatory momentum builds and ETF approvals appear within range, Ethereum’s domination in the in-facility portfolio marks a pivotal moment for Altcoin’s adoption.
ChatGpt cover image, TradingView’s Ethusd chart
