CONNECT WITH US
Gaming

Gaming

Ethereum Price Tests USD 2,800 as Spot ETF Inflows Extend to Three Days

Analytics Insight logo

Published on

Add as a preferred source on Google
Ethereum Price Tests USD 2,800 as Spot ETF Inflows Extend to Three Days

Ethereum traded near USD 2,760 after gaining about 14% over seven days, according to a market snapshot. ETH reached resistance near USD 2,786 but did not clear USD 2,800. 

At the same time, US spot Ethereum ETFs drew fresh inflows, while BitMine reported another weekly purchase. Those developments have renewed attention on the ETH price as traders await confirmation of a break above resistance.

US spot Ethereum ETFs recorded USD 270 million in net inflows on September 21, according to figures published by Farside Investors. BlackRock’s ETHA attracted USD 110.1 million, while Fidelity’s FETH drew USD 73 million. The total followed USD 143.7 million of inflows on September 18, ending a run of three trading days with net outflows.

Farside has since recorded another USD 162.2 million for September 22. That extends the inflow streak to three trading days and raises the combined total to USD 575.9 million. Reports that cite two days and roughly USD 413.8 million describe an earlier point in the streak.

The fund figures show demand for ETF shares during those sessions. They do not show how much of ETH’s price gain came from that demand. Ethereum rose alongside other cryptocurrencies, and the available flow data cannot isolate a single cause for its move.

BitMine confirmed on September 21 that it bought 27,562 ETH during the previous week. 9% of the reported supply. It aims to own 5%. BitMine also said it had staked 5,067,309 ETH, about 85% of its holdings.



Source link
Related Topics:Gaming

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.