Ethereum ETF Inflow Triggers ETH/BTC Breakout After 9 Years: What Next?
Key Insights:
- Ethereum ETF funds recorded a combined net inflow of $60.86 million on August 5, led by BlackRock’s ETHA.
- Analysts say the ETH/BTC chart is testing a level that has not been broken in about nine years.
- Ethereum price is now facing $2,300 and $3,000 as the next levels traders are watching.
Ethereum ETF products recorded $60.86 million in net inflows on August 5 as fresh buying interest returned to ETH. The move came as the ETH/BTC chart tested a key breakout level, with analysts pointing to $2,300 first, then $3,000 as the next major price area.
Ethereum ETF Sees Strong Inflow as BlackRock Leads
Ethereum ETF products posted a total net inflow of $60.86 million on August 5, according to figures shared by Trader T. BlackRock’s ETHA brought in the biggest share at $50.34 million, making it the strongest performer among the listed funds for the day.
Fidelity’s FETH added $2.87 million. Bitwise’s ETHW recorded $1.37 million, while 21Shares’ TETH received $1.34 million. BlackRock’s staked Ethereum fund, ETHB, also attracted $4.94 million.
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