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BlackRock’s Ethereum ETF breaks volume record
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ETHA, Black Rock Ethereum (ETH) ETF has established absolute dominance over its competitors. According to data from Farside Inverstors, the fund had more than US$290 million in inflows on Thursday (5), more than double Fidelity’s FETH, which received just over US$111 million.

In total, ETHA’s net inflows reached more than US$428 millionan absolute domain. The Bitwise ETF (ETHW) received just US$6.6 million.

On the other hand, the other Ethereum ETFs did not register any movement on Thursday.

ETH price is flirting around $3,900, looking for a potential breakout to record $5,000 levels and above. And the flow to ETFs can contribute to this movement, as Farside data shows.

New milestone for ETF

BlackRock’s iShares Ether ETF (ETHA) broke a record with the biggest daily inflows since its launch in July. During the week, the fund “took the Ethereum ETF market by storm by registering US$800 million in entries during the last five days.

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To date, the BlackRock Ethereum ETF holds 837,500 ETH, worth $3.27 billion, solidifying its position as a dominant player in the market.

Following yesterday’s numbers, net inflows into all Ethereum ETFs also surpassed $1 billion for the first time. With Thursday’s numbers, these inflows reached a new record of US$ 1.3 billion.

For Nate Geraci, president of ETF Store, ETFs reached this milestone despite facing significant obstaclessuch as restrictions on staking capabilities, $3.5 billion outflows from Grayscale’s ETHE, and other factors. The executive praised it by saying that in the face of difficulties, the performance of ETFs is “not bad at all”.

Despite 9% gains on the weekly chart, ETH price is currently facing major resistance at $3,928. If it manages to break this level, the market could see a bullish rally that takes ETH to $5,000 in the coming months.

Renowned cryptocurrency analyst Venturefounder points out that ETH is approaching a breakout from a three-year triangular consolidation pattern. He claims that ETH may also break out of a seven-year trading rangesetting the stage for a rapid increase.