The landscape of ETF inflows has taken an unexpected turn, with on-chain trends indicating an upward trajectory and significant players quietly entering the market.
The question now arises: Can Ethereum maintain this breakout and push even further?
Ethereum ETFs Surpass Bitcoin as Institutional Interest Grows
Recent data from Arkham Intelligence shows that ETFs are acquiring more Ethereum than Bitcoin, with a single-day influx of $461 million in ETH products compared to $404 million for BTC.
Source: Arkham Intelligence
Leading the surge are institutional giants like BlackRock, Fidelity, and Grayscale, who collectively invested millions into ETH products, marking one of the most significant institutional buying waves for Ethereum this year.
New Wave of Investors Flocking to Ethereum
Glassnode’s data reveals a notable increase in first-time buyers and momentum traders, driving up demand for Ethereum.
Source: Glassnode
Additionally, long-term investors showing conviction by raising their cost basis amid elevated prices indicate a strong commitment to the market.
This combination of new inflows and steadfast holder conviction could pave the way for a significant uptrend if buying pressure remains consistent.
Increased Open Interest Signals Potential Breakout for Ethereum
Ethereum’s derivatives market is heating up, with Futures Open Interest nearing a yearly high at $51.61 billion.
Source: CoinGlass
Despite a minor pullback, Ethereum’s price action remains robust, trading above its 9- and 21-day EMAs at $4,190.
Momentum indicators, such as RSI and MACD, support a bullish bias, hinting at further price appreciation.
Source: TradingView
With Ethereum’s current structure positioning it close to its all-time high of $4,891, there is potential for price discovery in the near future, although profit-taking could temporarily impede any substantial breakout.