Ethereum ETFs Break Record with Consecutive Inflows

Ethereum exchange-traded funds (ETFs) have achieved a significant milestone, with inflows rising for the 16th consecutive day, breaking their personal record. On December 14, the net inflow stood at over $23.6 million, pushing the total amount since inception to over $2.26 billion.

Ethereum ETFs Hold Over $13.7 Billion in Assets

According to recent data, all spot Ethereum ETFs now hold over $13.7 billion in assets, with the Grayscale Ethereum ETF remaining the largest, boasting over $5.6 billion in assets. Other notable ETFs include the iShares Ethereum Trust ETF, Fidelity Ethereum Fund, Bitwise Ethereum ETF, VanEck Ethereum ETF, and Franklin Ethereum ETF.

One key factor contributing to the inflows is the growing optimism that the U.S. Securities and Exchange Commission (SEC) will permit staking. This move would allow ETF holders to benefit from both the rising coin price and staking rewards, which currently stand at a 3.26% yield.

Ethereum’s Price and On-Chain Metrics Show Promise

Ethereum’s price is currently hovering near $4,000, just 25% below its all-time high of $4,870. The coin has experienced a significant surge, jumping by 153% from its 2023 lows. On-chain metrics also indicate a positive trend, with the number of active ETH addresses reaching over 122.7 million, the highest level in months.

Ethereum whales are gaining market share, holding around 43% of all Ethereum coins, up from 22% in November. This increase suggests that whales are optimistic about the coin’s future.

Ethereum Price Analysis: Can ETH Hit $5,000?

Recent analysis suggests that Ethereum’s price is on a path to $5,000, driven by demand and supply dynamics. The ETH price has risen and encountered a strong barrier at $4,092, a level it has failed to cross twice before.

For Ethereum to invalidate the triple-bottom chart pattern, it needs to break the resistance at $4,092. A move above this resistance could push the price to its all-time high of $4,877 and the key level at $5,000, a 25% increase from its current price.

Ethereum’s potential to reach $5,000 is achievable if the crypto bull run continues. As the market evolves, it’s essential to stay informed about the latest developments in the world of cryptocurrency.

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