- Fidelity and BlackRock drive Ethereum ETF inflows, reinforcing ETH’s position as a prime investment asset.
- Key levels, DeFi growth, and a nearing Golden Cross point to potential $6K and long-term $10K targets.
Ethereum-focused exchange-traded funds (ETFs) have seen significant inflows, with $133 million recorded over seven days, contributing to a total of $714.6 million during this growth streak. This follows previous developments, as reported by CNF, where Ethereum ETFs hit record weekly inflows in November amid growing demand.
Major players like Fidelity and BlackRock played pivotal roles in this trend, with Fidelity’s FETH ETF contributing $73.7 million and BlackRock’s ETHA ETF adding $65.3 million. This institutional interest underscores growing confidence in Ethereum as a key investment asset.
Wu Blockchain also highlighted this surge in a recent tweet:
On December 3, the total net inflow of Ethereum spot ETFs was $133 million, with net inflows continuing for seven consecutive days. Fidelity ETF FETH saw a net inflow of $73.7239 million, while BlackRock ETF ETHA recorded $65.2929 million.
Analysts Target $6,000 as Key Levels Hold
Analysts identify $3,300 as a crucial support level for Ethereum, making it a solid entry point for long-term investors. With Ethereum holding above this level, a mid-term target of $6,000 appears achievable. Additionally, Ethereum’s dominance in decentralized finance (DeFi) and expanding adoption strengthen the case for bullish growth, with some forecasts pointing to a long-term target of $10,000.
Golden Cross Hints at Explosive Growth
Ethereum is nearing a “Golden Cross,” where the 50-day moving average surpasses the 200-day moving average—a historically bullish indicator. In past cycles, this pattern has led to significant rallies, often doubling Ethereum’s value.
With the possibility of an Altseason on the horizon, the combination of technical signals and increasing market activity could propel Ethereum toward new highs. As of now, Ethereum (ETH) is trading at $3,920.42, reflecting a 4.73% increase in the past day and an 8.63% gain over the past week.
