BlackRock Ethereum ETF Hits $3B Inflows, ETH Price Eyes $15,000
Highlights
- BlackRock Ethereum ETF inflows underscores growing institutional inflows into ETH.
- Ether-based ETFs have collectively garnered over $2 billion in inflows since their July launch.
- Analysts predict ETH price to hit $15,000 within the next 6-8 months.
BlackRock Ethereum ETF witnessed massive inflows crossing the $3 billion milestone since inception, on Thursday. This comes amid continuous inflows in the last 10 trading sessions as Donald Trump’s crypto-friendly policy leads to a surge in institutional inflows. Crypto market analysts believe that this inflows can push ETH price to $15,000 within the next 6 to 8 months.
BlackRock Ethereum ETF Hits New Milestone
BlackRock’s iShares Ethereum ETF (ETHA) has witnessed inflows for 10 consecutive days, bringing its net inflows above $1.3 billion in this period. As per the data from Farside Investors, the total inflows into ETHA since inception reached nearly $3.2 billion since inception.
This surge in demand highlights the growing interest in Ethereum-based exchange-traded funds, which have collectively attracted more than $2 billion in inflows since their launch in July. This comes despite $3.5 billion in outflows from Grayscale Ethereum Trust (ETHE) during the same period.
On Thursday, December 12, the BlackRock Ethereum ETF saw an additional $202 million in inflows. The second-best inflows were in Grayscale mini Ether ETF (ETH) which saw more than $73 million in inflows. On the other hand, Fidelity’s FETH has also witnessed strong inflows nearing $1.4 billion since inception.
Furthermore, the BlackRock management team also has high hopes for its Ethereum ETF’s future performance. Jay Jacobs of BlackRock at ETFs said:
“We’re really just at the tip of the iceberg with Bitcoin and especially ethereum. Just a tiny fraction of our clients own ($IBIT and $ETHA) so that’s what we’re focused on (vs launching new alt coin ETFs)”.
ETH Price Mega Rally In Making?
ETH price bounced back to $4,000 on Thursday, however, it continues to face rejection at these levels. As of press time, price of Ethereum is trading 0.74% down at $3,913 with a market cap of $471 billion. Despite this, market analysts continue to be optimistic about Ethereum expecting a mega rally ahead.
Ethereum is poised to close another weekly green candle, provided its price stays above $3,712, according to prominent crypto analyst VentureFounder. The analyst’s long-term outlook places ETH price to reach a target of $15,937 by May 2025. In the short term, VentureFounder suggests Ethereum’s next three-week green candle could push the cryptocurrency to its previous all-time high of $4,900.
Thus, if inflows into BlackRock Ethereum ETF continue at the same pace, it can lead to further gains for ETH. However, the asset needed to first break past its crucial resistance from Ethereum price to target $5,000 and fresh all-time highs ahead.
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