Spot Ethereum ETFs in the US saw their biggest daily intake since the beginning of February, which indicates a potential turnaround after weeks of bearish sentiment.
According to Sosovalue factsThe nine ETFs listed by the US brought $ 38.74 million into net influx on April 22 and break a 10-day series zero or negative streams. That is their highest daily intake since 4 February, when they saw a huge $ 307.77 million bring in.
This is after eight consecutive weeks of outsourcing that amounted to nearly $ 910 million.
The majority of the new capital went to Fidelity’s Feth, which resulted in $ 32.65 million. Bitwise Ethw also received a decent $ 6.09 million.
The other funds did not move much and did not take an inflow for the day. In general, these Ethereum ETFs have put on a total of around $ 2.26 billion since the launch.
The Golf in ETF intake came well when Ethereum itself started to recover. On Tuesday, ETH caught more than 10%and climbed past $ 1,700 for the first time since 6 April.
The rally seems to be powered by renewed optimism after comments from the American Minister of Treasury Scott Bessent, who hinted that tensions with China could cool down quickly for rates.
Some investors also start to cover themselves against the US dollar, while Trump continues to criticize and insist the FED chairman Jerome Powell to replace him. That uncertainty, in combination with the confirmation by Paul Atkins as SEC chairman, seems to boost crypto.
By Wednesday, Ethereum (ETH) had briefly hit $ 1,800, an increase of approximately 14.2% in just two days. In the meantime, Bitcoin (BTC) broke through the $ 90,000 resistance, all the way to $ 93,385 and helped push the total crypto market back over a rating of $ 3 trillion.
Bitcoin, who ran synchronously with shares earlier this month, now seems to be disconnected from traditional risk assets. From now on, BTC increased by 13.6% in April, causing the increase of 6.7% to beat. On the other hand, both the S&P 500 and the US Dollar Index have fallen by around 5% for the month.
Based on these conditions, analysts now think that Ethereum could prepare for more profit. On April 23, market analyst Ash Crypto posted On X, saying ETH seems “ready to explode”, pointing to agreements with the Bitcoin arrangement from the end of 2024.
Yet some analysts warn that it is not all clear yet. According to analysts at Crypto.news, ETH has to break above $ 2,000 and form a higher high to confirm a full trend removal. Without that this bounce can simply be a short-term rally in a wider downward trend.
