Key Takeaways
How much money has flowed into Ethereum ETFs recently?
On November 24, ETH ETFs saw inflows of $96.6 million, with BlackRock contributing $92.6 million. On November 25, ETH ETFs added another $78.6 million.
What do technical indicators say about Ethereum right now?
RSI and MACD indicate a short-term bearish trend, but these signals could be temporary noise rather than long-term weakness.
At a time when the market is buzzing with the launch of new altcoin ETFs, Ethereum’s quiet but powerful momentum is being overlooked.
The world’s largest altcoin ETF – the Ethereum Spot ETF – has been steadily gaining momentum since debuting the same year as historic Bitcoin [BTC] ETF rollout.
And the latest figures show that investors have confidence in Ethereum [ETH] has not faded yet.
Ethereum ETF Inflows Analysis
On November 24, Ethereum Spot ETFs logged in a strong net inflow of $96.6 million, with BlackRock alone accounting for $92.6 million, marking the first inflow in two weeks.
Well, the momentum didn’t stop there.
A day later ETH ETFs attracted another $78.6 million, led by Fidelity’s FETH with $47.5 million, followed by BlackRock’s ETHA with $46.2 million, and Grayscale’s ETH added $8.3 million.
While most other issuers recorded no activity, Grayscale’s ETHE remained under pressure, with outflows of $23.3 million according to Farside Investors.
However, despite strong inflows into Ethereum ETFs, the asset itself continues to face a difficult pricing environment.
ETH price action
At the time of the latest ETF inflows, Ethereum was trading around $2,913.41 but still couldn’t recover after dropping more than 30% in a month. CoinMarketCap.
This weakness was in stark contrast to the asset’s price action when ETH ETFs first went live on July 23, 2024, when Ethereum Closed for $3,418.61.
But the current battle is not just about Ethereum.
The broader crypto market is under pressure due to a mix of macro events, including a US government shutdown, shifting expectations around Fed rate cuts and the general sense of risk.
Technical indicators also reflect this short-term turbulence. In fact, tThe RSI and MACD indicate a bearish phase, although these signals may be temporary noise rather than signs of a deeper structural shift.
Source: trading view
Interestingly enough, this period of weakness actually brought the big Ethereum whales back into the market. After ETH recovered nearly 9% from its recent low of $2,623, whales became noticeably active again, breaking a month-long downtrend.
On-chain data showed dormant wallets suddenly moving large amounts of ETH.
Binance ETF is also picking up
As Ethereum battles its own volatility, the broader ETF race heats up.
In a new development, VanEck has done just that submitted for a Spot Binance [BNB] ETF. According to recent SEC filings, the VanEck BNB ETF (VBNB) will list on Nasdaq and hold BNB directly, tracking the MarketVector BNB Index.
The fund will not enable staking at launch, although VanEck noted that any future staking features would be handled through third-party vendors with advance notice.
This announcement landed just like BNB traded at $857.52, a slight gain of 0.57% in 24 hours, but still down more than 25% in the past month, a pattern driven by the same macro pressures hitting Ethereum and the rest of the crypto market.