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Ethereum heading towards US$10,000 boosted by ETFs, analyst points out
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Rising demand for Ethereum (ETH) is driving optimism in the market, with analysts predicting that the asset’s value could reach the $10,000 mark.
This prediction gains strength after inflows into Ethereum ETFs turned positive for the first time since July, revealing a change in institutional and individual interest in the second largest crypto asset on the market.
According to data from SoSo Value, there was a daily net flow of US$135.92 million, bringing cumulative inflows to US$94.62 million. The movement in Ethereum ETFs has attracted the attention of industry leaders, with analysts highlighting that this growth signals an important milestone for the cryptocurrency.
Nate Geraci, president of ETF Store, for example, stated that this result is a significant achievement for Ethereum ETFs, considering the history of net outflows that reached more than $3.2 billion in the Grayscale Ethereum Trust (ETHE).
Optimism with Ethereum
The nine Ethereum ETFs available on the market have seen increased activity, with five of them showing positive inflow. Grayscale Ethereum Trust was the only one to record outflows, while the other ETFs maintained stable flows.
As Ryan Sean Adams, co-founder of Bankless, noted, even with Grayscale’s exits, the market is showing signs of reversing. Adams further pointed out that this trend could indicate a “recipe for an ETH rocket to $10,000.”
The recent record inflow into ETFs occurred on November 11, when capital inflows reached a staggering $295 million, tripling the previous record of $106.6 million recorded on launch day. Big companies like Fidelity and BlackRock led these investments, boosting confidence in Ethereum’s appreciation potential.
Eric Balchunas, senior ETF analyst at Bloomberg, reinforced the optimistic scenario, commenting that “ETFs are headed in the right direction”. Balchunas believes that the growth of Ethereum ETFs could intensify further, although the Bitcoin ETF market maintains a significant lead.
At the same time, Bitcoin (BTC) ETFs are also experiencing solid growth, surpassing $90 billion in assets under management.
According to Balchunas, the appreciation of Bitcoin ETFs results from an increase of US$6 billion, driven by US$1 billion in new inflows and an appreciation of US$5 billion in the market. He described the continued interest in Bitcoin ETFs as a “fever” that shows no signs of abating.
Ethereum heading towards US$10,000 boosted by ETFs, analyst points out
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Ethereum heading towards US$10,000 boosted by ETFs, analyst points out
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Ethereum heading towards US$10,000 boosted by ETFs, analyst points out
