Ethereum ETF Inflows hit $1.53B as whales and institutions fuel price boom

Ethereum ETF Inflows have surged to record-breaking levels, with heavyweight issuers like BlackRock, Fidelity, and Grayscale collectively funnelling $1.53 billion into ETH over the past week. The unprecedented wave of institutional demand is fuelling optimism for Ethereum’s recovery, drawing both Wall Street giants and corporate buyers back into the market.

On chain data from Arkham Intelligence, reported on August 28, highlights that BlackRock alone acquired approximately $550 million in ETH spread over the last five days.

This brings BlackRock’s total Ethereum ETF inflows to just over 3.6 million ETH valued at around $17 billion at current market prices. Grayscale and Fidelity have also ramped up their Ethereum ETF inflows increasing their holdings to 1.82 million ETH and 763,000 ETH worth about $8.3 billion and $3.5 billion respectively.

The momentum in Ethereum ETF inflows is reflected in the latest data from SoSoValue, which shows that issuers brought in $307.2 million during the most recent session on August 27. In the last four days, Ethereum ETF inflows have climbed to $1.53 billion continuing a steady streak of gains.

This renewed wave of Ethereum ETF inflows reverses the negative trend seen just over a week ago when several issuers including BlackRock sold off significant amounts of ETH. Now, with fresh buying, the total assets under management for these funds have climbed to approximately $30.2 billion representing about 5.4% of Ethereum’s total supply.

Whales and Corporations Join the Ethereum ETF Inflows Frenzy

The surge is being fueled by more than just issuers. Large institutional wallets often referred to as whales have been accumulating ETH in substantial quantities. On chain trackers reveal that millions of dollars’ worth of ETH have been purchased by various entities in recent days with one wallet alone acquiring 641,508 ETH nearly $3 billion within a single week.

Corporate players are also contributing to the surge in the ETF inflows. The second biggest publicly traded company holding ETH, SharpLink, recently expanded its stake by $24 million. Meanwhile, wallets believed to belong to BitMine the current top holder have been making even larger acquisitions.

Ethereum ETF Inflows Fuel Price Recovery: ETH Eyes $5,000 Target

Market price trends highlight the impact of sustained ETF inflows. After a period of decline, ETH has rebounded trading at $4,571 at the time of writing according to crypto.news market data. While ETH posted a slight 0.67% loss over the past 24 hours, it is up 6% for the week bouncing back from a low of $4,216 after last weekend’s brief rally above $4,950.

With Ethereum ETF inflows and whale accumulation on the rise, market sentiment is turning bullish. ETH is currently trading above its 20 day moving average near $4,468 maintaining short term momentum.

On the technical front, resistance is positioned around $4,800 with downside support at $4,460 and a deeper floor near $3,900. The relative strength index (RSI) stands at 57 indicating there is still room for further gains before ETH becomes overbought.

As Ethereum ETF inflows continue to strengthen and institutional interest remains high, the ongoing rebound may have more room to run. If accumulation persists, ETH could soon test the $4,800–$5,000 price range driven by the sustained momentum of Ethereum ETF inflows.