Ether ETFs Hit Record $720M Daily Inflow as Altcoin Momentum Builds

US spot Ether exchange-traded funds (ETFs) saw a record net daily inflow of $720 million on Wednesday, reflecting growing institutional appetite for the cryptocurrency as altcoins rally across the market . The previous record was $428 million, set on December 5, 2024, according to Farside Investors. BlackRock’s ETHA led Wednesday’s surge with $489 million in inflows, while Fidelity’s FETH followed with $113 million. Collectively, US spot Ether ETFs now hold over 5 million ETH, representing more than 4% of ETH’s circulating supply. The inflows come as altcoins gain momentum, with analysts suggesting the rally could continue as Bitcoin dominance begins to decline. At the time of writing, ETH is trading above $3,400, marking an 8% increase over the past 24 hours. Notably, US spot Ether ETFs purchased nearly 107 times the daily network issuance of ETH, which totaled $6.74 million, highlighting the strong institutional demand. Ether Leads Broader Altcoin Rally Analysts point out that declining Bitcoin dominance often signals a market rotation favoring altcoins, which could sustain the current rally. Ethereum’s increased institutional accumulation, paired with robust inflows, suggests investor confidence in ETH’s potential to outperform in the near term. If Bitcoin dominance continues to drop, traders expect liquidity to rotate into Ether and major altcoins, which could drive further price appreciation and attract additional ETF inflows . ETH Price Overheating but Trend Strong On the daily chart, the RSI readings indicate heavily overbought conditions, suggesting the market may be due for a short-term pullback or consolidation. However, strong RSI levels also reflect the momentum driving ETH’s recent gains. If the bullish momentum continues, ETH could target the nearest resistance around $3,425. ETH price chart | Source: Binance The MACD shows a widening bullish gap, with the MACD line above the signal line, and a histogram expanding into positive territory. This confirms a strong upward trend, with further upside potential toward $3,600 if momentum persists. On the other hand, immediate support lies at $3,100 for Ether, with stronger support around $2,950 if a deeper correction occurs. The post Ether ETFs Hit Record $720M Daily Inflow as Altcoin Momentum Builds appeared first on TheCoinrise.com .

Source: The Coin Rise