Ethereum Spot ETFs See Strong Inflows Amid Signs of Cooling Price Momentum
Main Idea
Ethereum spot ETFs experienced significant inflows, highlighting strong institutional demand, while Ethereum's price momentum shows signs of cooling despite recent gains.
Key Points
1. Spot Ethereum ETFs saw a net inflow of $533.87 million on July 22, with cumulative inflows reaching $8.32 billion, led by BlackRock’s ETHA with $426.22 million.
2. Ethereum dominates the tokenization market with 54% share, as institutions like Franklin Templeton and BlackRock use its blockchain for asset digitization.
3. Ethereum's price stalled near $3,700 after a 17% weekly gain, with declining trading volume and an overbought RSI of 81.6 suggesting potential correction.
4. Key resistance levels for Ethereum are at $3,850 (potential breakout to $4,000) and support at $3,500 (risk of retracement to $3,250).
5. Spot Bitcoin ETFs experienced net outflows of $67.93 million, contrasting with Ethereum's strong inflows.
Description
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