Boom Time for Ethereum ETFs: Biggest Inflows Since February!

U.S. Spot Ethereum ETFs See Massive $38.74M Surge

Hang onto your hats, crypto fans! U.S. Spot Ethereum ETFs just smashed their biggest daily inflows since early February, hinting at a wild turnaround after weeks of gloom and doom.

SoSoValue's data is screaming that the nine U.S.-listed Ethereum ETFs raked in a whopping $38.74 million in net inflows on April 22, snapping a brutal 10-day streak of zero or negative flows. That's the highest daily haul since Feb. 4, when they guzzled down a massive $307.77 million!

This surge comes hot on the heels of eight straight weeks of outflows that drained nearly $910 million from these funds.

Where did the cash go? Most of it, $32.65 million, poured into Fidelity's FETH. Bitwise's ETHW wasn't far behind, snagging $6.09 million.

The other funds? They barely moved, showing no inflows for the day. But hey, since launch, these Ethereum ETFs have still managed to pull in around $2.26 billion overall.

Ethereum Prices Soar as ETFs Surge

And guess what? This ETF cash rush happened just as Ethereum itself started to claw its way back. On Tuesday, ETH skyrocketed over 10%, blasting past the $1,700 mark for the first time since April 6.

The rally's got everyone buzzing, fueled by fresh hope after U.S. Treasury Secretary Scott Bessent dropped hints that tensions with China over tariffs might chill out soon.

Plus, some investors are now betting against the U.S. dollar, with Trump still slamming Fed chair Jerome Powell and pushing to boot him out. That uncertainty, mixed with Paul Atkins' nod as SEC chair, seems to be giving crypto a serious shot in the arm.

By Wednesday, Ethereum (ETH) had briefly touched $1,800, soaring around 14.2% in just two days. Meanwhile, Bitcoin (BTC) smashed through the $90,000 resistance, rallying all the way to $93,385 and helping push the entire crypto market back above a $3 trillion valuation.

Bitcoin, which had been moving in lockstep with stocks earlier this month, now seems to be breaking free from traditional risk assets. As of now, BTC is up 13.6% in April, trouncing gold's 6.7% rise. On the flip side, both the S&P 500 and the U.S. dollar index are down about 5% for the month.

Analysts Bullish on Ethereum's Future

Given these wild conditions, analysts are now betting that Ethereum could be gearing up for even more gains. On April 23, market guru Ash Crypto took to X, declaring that ETH looks "ready to explode," drawing parallels with Bitcoin's setup from late 2024.

But hold your horses, because not everyone's popping champagne just yet. Crypto.news analysts are warning that ETH needs to break above the $2,000 mark and form a higher high to confirm a full trend reversal. Without that, this bounce could just be another short-term rally in a broader downtrend.