Key Highlights
- Ethereum’s price stood at $2,436 on August 29, reflecting a 2.33% daily decline
- U.S. spot Ethereum ETFs achieved 10 consecutive days of positive net inflows, accumulating $1.52 billion
- BlackRock’s ETHA dominated with $1.02 billion in inflows across nine sessions, capturing approximately 72% of total flows
- The Senate will hold a cloture vote on the CLARITY Act on September 15
- Critical support for ETH rests at $2,350, while resistance appears at $2,500
Ethereum declined to $2,436 on August 29 amid a broader cryptocurrency market downturn that saw values drop 1.71% within 24 hours, bringing the total crypto market capitalization to $2.62 trillion. Bitcoin hovered below $78,000 while XRP traded near $1.38.
The recent price retreat comes despite ETH’s impressive recovery from approximately $1,900 in mid-August. The cryptocurrency surged past $2,200 and repeatedly challenged the $2,500 level before experiencing a pullback.
On August 28, U.S. spot Ethereum ETFs registered $102.18 million in net inflows, extending their positive flow streak to 10 consecutive trading days. The cumulative inflows throughout this period reached approximately $1.52 billion.
The week concluding around August 21 saw Ethereum ETF inflows hit roughly $697 million — representing the strongest weekly performance in nearly 10 months and a 2026 peak at that point, according to SoSoValue data.
BlackRock’s ETHA Commands Market Share
BlackRock’s ETHA fund attracted approximately $1.02 billion throughout nine consecutive trading sessions spanning August 17 to August 27, representing roughly 72% of total U.S. spot Ethereum ETF inflows during this timeframe.
The fund experienced its strongest performance on August 27, capturing $225.8 million in inflows — the largest single-day figure recorded since October 28, 2025. ETHA’s total net inflows since its July 2024 inception now approach $12.74 billion, with net assets valued at approximately $8.46 billion.
The roughly 385,633 ETH purchased over this eight-day period suggests an average acquisition price ranging between $2,490 and $2,550. This represents a significant discount compared to ETHA’s lifetime average cost basis of approximately $3,060.
These spot ETF flows represent client-driven purchases rather than BlackRock’s proprietary trading. When market participants purchase ETHA shares, the fund secures Ethereum through Coinbase Prime to maintain backing.
Fidelity’s FETH emerged as the sole fund experiencing outflows on August 28, shedding $24.26 million. Meanwhile, Grayscale, Bitwise, VanEck, and Franklin funds maintained neutral positions with no daily flow movements.
Technical Analysis and Price Targets
ETH’s RSI registered 44.09, indicating diminished momentum without entering oversold conditions. The MACD line positioned at 0.65 remained beneath the signal line at 12.62, with the histogram declining to -11.97.
Market analyst Ash Crypto highlighted on X that the ETH/BTC pair is developing a triangle formation with a narrowing range. According to his analysis, a breakout above the trendline could propel ETH toward $2,800, whereas a rejection might drive prices back to the $2,000–$2,200 zone.
Trader Michaël van de Poppe (@CryptoMichNL) shared his outlook that if ETH validates a genuine breakout, the subsequent rally could target $3,200, with potential extension to $3,500.
The CLARITY Act, having cleared the House of Representatives, now awaits a Senate cloture vote scheduled for September 15, requiring 60 affirmative votes to proceed.
The post Ethereum (ETH) Attracts $1.52 Billion ETF Inflows Despite Price Correction to $2,436 appeared first on Blockonomi.
Be the first to comment