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Ethereum Eyes $2,800 as ETF Inflows Extend to Five-Day Streak

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Ethereum Eyes $2,800 as ETF Inflows Extend to Five-Day Streak

Ethereum rose 3.36% over 24 hours to $2,737.26, outpacing a 2.49% gain in the wider crypto market. U.S. spot Ethereum exchange-traded funds recorded a fifth straight session of net inflows, while ETH remained below the $2,800 level it had recently failed to hold.

U.S. spot Ethereum ETFs drew $66.1 million in net inflows on September 24, according to data from Farside Investors. The funds have recorded inflows in every trading session since September 18, bringing the five-session total to $746.5 million.

The daily pace has slowed since the $270 million recorded on September 21. Investors added $162.2 million on September 22 and $104.5 million on September 23 before the September 24 reading. The five-day run shows continued demand for Ethereum investment products as ETH trades near $2,700.

BlackRock’s iShares Ethereum Trust, known as ETHA, accounted for $26.8 million of the September 24 inflows. Fidelity’s fund added $21.5 million, while Grayscale’s Ethereum Mini Trust took in $17.8 million. Farside’s figures place ETHA’s cumulative net inflows above $13.2 billion.

The wider crypto market gained 2.49% during the same 24-hour period. Ethereum’s 3.36% rise put it ahead of that market measure by 0.87 percentage points. Several other altcoins also posted gains during the session.

The CoinMarketCap Altcoin Season Index rose 9.62% to 57 in the market snapshot supplied for this report. Chainlink gained 14.55%, while Quant rose 36.11%. Those gains accompanied Ethereum’s advance as traders increased their exposure to altcoins.

Ethereum fell to around $2,680 after briefly rising above $2,800 earlier this week.


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