Ethereum ETFs Break Record With $332 Million Inflows

Will Ethereum price reach $4,000?

On Friday, Ethereum ETFs outperformed Bitcoin ETFs in net flows for the first time ever.

According to data provided by Farside, Ethereum ETFs have shown $332 million in net inflows on Nov. 29.

Bitcoin ETFs, on the other hand, have shown net inflows of only $320 million on the same date.

This marks a significant milestone for the Ethereum adoption by institutional investors.

The profitability of Ethereum (ETH) has surged to levels not seen since June, with 90.8% of ETH holders now in profit, according to data from IntoTheBlock.

The ETH price reacted with a massive surge, topping the $3,660 level. At press time, the Ethereum price is traded at $3,688, undergoing a minor correction.

Ethereum price prediction

The $3,800 resistance level is crucial for the ETH price. If breached, Ethereum could test $4,000, potentially triggering significant short liquidations that might fuel further gains.

As Ethereum approaches $4,000, rising volatility increases the likelihood of a substantial price squeeze. While this could propel ETH higher, market reactions to liquidation levels may lead to sharp swings in either direction, making caution essential.

About the author

Dan Burgin

Dan is a news editor and writer with 12 years of experience in finance and emerging technologies, with a strong focus on crypto. Covering a broad spectrum of topics, from fintech startups to AI, he provides an in-depth overview of the current state of the crypto market, along with insights into its potential for future disruption.

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Ethereum ETFs Break Record With $332 Million Inflows

Ethereum price prediction

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