Record Spot ETH ETF Inflows Propel Ethereum Near ATH with $8,500 Target
Ethereum’s price surged 10% in one day and 8% over 24 hours, closing within 2% of its November 2021 record high of $4,867. Institutional demand drove a record $1.02 billion inflow into spot ETH ETFs on August 11, led by BlackRock’s iShares Ethereum Trust. Total ETF assets now exceed $10 billion with weekly inflows over $2.2 billion and more than $2.3 billion added in six days. On-chain metrics show daily transactions near 1.9 million and a DeFi TVL around $95 billion. Technical analysis highlights strong resistance at $4,700–4,750; a sustained break could trigger a price discovery phase. Analysts forecast targets from $7,000 to $13,000, with Yashasedu projecting $8,500 by year-end. Traders should monitor spot ETF flows and key resistance levels for trading opportunities.
Bullish
Record spot ETF inflows signal strong institutional demand, fueling Ethereum’s near-term price momentum. A sustained break above the $4,700–4,750 resistance zone could trigger accelerated gains and a new price discovery phase. High on-chain activity and growing staking adoption further support a bullish outlook. In the short term, volatility around ETF flow announcements may offer trading opportunities. Over the long term, sustained inflows and robust network demand underpin Ethereum’s potential to reach and surpass $8,500.