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Ethereum climbed above $3,000 Thursday for the first time in three weeks, rising 3.5% as spot ETFs logged their fourth consecutive day of inflows with $78 million in net new capital, according to SoSoValue data.
The rally follows a brutal November that saw ETH shed nearly 40% from its monthly peak. Despite the rebound, Ethereum remains 38% below its August all-time high of $4,946.
Eth ETF inflow momentum strengthened in parallel with improving market structure. Although Ethereum’s 24-hour spot volume dipped 5% to $21 billion, the derivatives market told a more compelling story: futures volume dropped 10% to $76 billion, while open interest surged 6.59% to $37 billion.
A rise in open interest during a price rebound typically signals traders are entering fresh positions rather than closing existing ones — a classic indicator of building momentum.
Crypto derivatives analyst James Check of Glassnode explained:
“When you combine rising open interest with persistent ETF inflow, you’re looking at real conviction capital stepping back into the market. That’s a bullish structural signal.”
Spot ETH ETFs notched another powerful session, pulling in $78 million in net inflows, according to SoSoValue data. This marks the fourth consecutive day of Eth ETF inflow, pushing cumulative inflows above $12 billion since launch.
ETF demand matters because issuers must buy ETH in the open market to back their shares — injecting real spot demand when the broader market weakens.
Bloomberg ETF strategist Eric Balchunas noted earlier this week: “Eth ETF inflow has exceeded expectations. Sustained inflows like these show institutions are averaging into Ethereum even during periods of volatility.”
This consistent ETF inflow trend is helping offset recent sell-offs that triggered panic across retail markets, creating a more stable price floor at the $3,000 level.
Outside of ETFs, institutional and corporate accumulation is accelerating in parallel with the Eth ETF inflow trend.
Tom Lee’s crypto asset firm BitMine added 69,822 ETH last week, worth about $197 million, lifting its total holdings to 3.63 million ETH, now valued at over $10 billion.
Market strategist Tom Lee commented in a recent interview: “The ETF inflow trend aligns with what we’re seeing at the corporate level. Institutions are positioning for long-term upside because Ethereum still has one of the strongest on-chain economies in the industry.”
These whale-level moves reinforce confidence that the market may be entering a rotational recovery phase, with Eth ETF inflow acting as the leading indicator.
With Ethereum reclaiming $3,000 and volatility cooling, analysts say the persistent Eth ETF inflow streak could signal a sentiment reversal heading into the new quarter.
Crypto economist Noelle Acheson summarized the shift: “Eth ETF inflow is functioning like a stabilizer. It brings steady, predictable demand that offsets emotional retail trading. This is how long-term bottoms usually form.”
If ETF demand continues at this pace, Ethereum could reclaim additional key levels as institutional liquidity absorbs excess market supply.
The combination of consistent Eth ETF inflow, rising open interest, growing whale accumulation, and strengthening institutional participation has created a powerful cocktail of market momentum.
With Ethereum back above $3,000 and inflows accelerating, traders are now watching to see whether this ETF inflow streak transforms into a full-scale market reversal.
Ethereum’s next major test lies above $3,200 — and for now, the ETF inflow trend is firmly on its side.
