U.S.-listed Ethereum exchange-traded funds (ETFs) have hit a significant milestone, continuing a month-long streak of gains. On August 11, spot Ethereum ETFs saw a record single-day net inflow of $1.02 billion, according to SoSoValue data, marking their largest inflow since launch.
BlackRock’s ETHA led the surge, attracting about $640 million, followed by Fidelity’s FETH with around $277 million. Other funds saw smaller inflows: Grayscale’s ETH and ETHE added $66 million and $13 million respectively, while the remaining ETFs each recorded less than $10 million.
Combined trading volume across these ETFs exceeded $2.7 billion, representing one of the strongest sessions in recent months. All nine U.S.-listed Ethereum ETFs have now reported positive inflows for five consecutive days, reflecting growing institutional demand.
This record capital inflow coincided with Ethereum breaking through a year-long resistance level to surpass $4,000, hitting a multi-month high. At the time of writing, ETH trades at $4,278—just 8% below its all-time peak.
Although ETH dipped 0.31% on the day, its weekly and monthly performance remains robust, gaining 17% over the past week and 45% over the past month.
Is ETH set to reclaim its all-time high?
Investors and analysts are setting ambitious price targets for Ethereum, with growing expectations that the asset could retest—and possibly surpass—its all-time high of $4,815.
This optimistic outlook is fueled by several factors. In addition to record ETF inflows, significant purchases by corporate investors and whale wallets are bolstering the bullish sentiment. Corporate Ethereum holdings have now exceeded $14 billion, while whale wallets continue to increase their positions. This combined buying pressure is expected to drive ETH closer to its all-time high, boosting market confidence.
Adding to the positive momentum is a shift in on-chain behavior. Analyst Ali Martinez notes that long-term ETH holders have moved from a “capitulation” phase to a “belief” phase over the past four months. This indicates that holders who were previously selling during downturns are now holding—or even accumulating—in anticipation of higher prices. Such a shift typically reduces selling pressure and often signals the start of sustained rallies.
From a technical perspective, ETH has been steadily climbing within a clear upward channel since the beginning of the month. The daily chart shows a strong breakout above all major moving averages. However, the $4,300 level is currently acting as short-term resistance, with price action showing some hesitation around this zone.
A decisive break above $4,300 could ignite the next upward move toward $4,500, which aligns with the upper boundary of the current ascending channel. According to Martinez, surpassing this level would also pave the way for a potential rise to $5,241.
However, with the RSI currently at 72.88, the market is in overbought territory, indicating a possibility of short-term pullbacks or sideways consolidation before the rally continues.
If the uptrend persists, ETH may test the $4,500 zone, and a strong breakout above that level would bring its all-time high within reach. On the downside, the $3,835 mark—near the 20-day EMA—serves as crucial support to monitor in case the rally loses momentum.
