- Ethereum ETFs recorded $296.4 million in inflows last week, marking seven consecutive weeks of gains driven by rising institutional interest and potential SEC approval for staking.
- ETH price is retesting key resistance, with bullish momentum building as technical indicators show positive signals.
Ethereum ETFs Extend Winning Streak with $296M Inflows
Ethereum investment products just notched their seventh consecutive week of net inflows, pulling in a massive $296.4 million. This marks the strongest inflow momentum since the U.S. elections in 2020, bringing total inflows to $1.5 billion, according to CoinShares. BlackRock’s iShares Ethereum Trust (ETHA) led the charge, contributing $281.3 million over 15 straight days.
This surge is largely driven by a shifting narrative surrounding Ethereum’s role in public blockchain utility, fueled by growing institutional interest in stablecoins and tokenization. Major fintech players like Visa and Mastercard are showing support, reinforcing Ethereum’s position at the center of blockchain-based payment systems.
Staking Speculation Adds Fuel to the Fire
Investor enthusiasm is also being fueled by the potential SEC approval of staking within spot Ethereum ETFs. Invesco’s latest SEC filing seeks to enable staking through its Galaxy Ethereum ETF, joining other giants like Fidelity and Grayscale.
On May 29, the SEC’s Division of Corporation Finance hinted that some staking operations may not classify as securities, a significant development that could unlock a fresh wave of institutional inflows. Analysts at Bernstein believe this marks a critical inflection point in investor perception — “If stablecoins have value, so does Ethereum.”
Ethereum Price Analysis: Bullish Breakout on the Horizon?
Ethereum (ETH) is currently testing an ascending trendline resistance after three recent failed attempts to break above it. A strong move beyond this level could open the door toward the $2,750 – $2,850 resistance zone. However, the 200-day Simple Moving Average (SMA), which has been capping gains since mid-May, remains a critical barrier to overcome.
On the downside, ETH has immediate support at $2,400, with stronger backing between $2,250 and $2,100, near the 50-day SMA. Technical indicators like the RSI and Stochastic Oscillator are showing bullish potential, hinting that Ethereum might be gearing up for its next major rally.
