Ethereum ETFs See Record Inflows as Price Targets $2,600 Mark

• ETF inflows surged fivefold, signalling rising institutional ETH demand.
• Ethereum Foundation sent 5,000 ETH to the Gnosis wallet in one month.

Ethereum (ETH) investment products are seeing renewed momentum. According to Glassnode data, ETH spot ETFs in the U.S. recorded net inflows of 154,000 ETH over the past week. This is five times greater than the recent weekly average, pointing to a sharp uptick in institutional interest. The strongest single-day inflow came on June 11, when 77,000 ETH entered ETF vehicles.

Glassnode’s chart shows a clear upward trend in ETF inflows, marked by green bars. The ETH price, shown by the black line on the chart, rose in parallel, reaching close to $3,700. 

After a brief period of negative flows in mid-May, ETF activity rebounded strongly by late May and continued into early June.

Ethereum Eyes $2,600 as Accumulation Builds

Ethereum is attempting a recovery after a recent downturn, with its price hovering near $2,553. The hourly chart shows ETH bouncing from a key support level at $2,393. Despite the absence of a strong reversal, considerable wallet accumulation is offering some support.

However, the $2,600 resistance level now serves as a key short-term hurdle. A sustained move above this range may push ETH toward $2,857, a previous local high. Volume indicators show steady market participation, while the price remains near the lower band of the Nadaraya-Watson Envelope. 

An existing order block at the current price zone could present short-term resistance. As long as buying activity continues, Ethereum’s technical structure will remain stable, even amid broader macroeconomic pressures.

Ethereum Foundation Transfers Raise Market Eyebrows

The Ethereum Foundation transferred 1,000 ETH, valued at around $2.47 million, to a Gnosis Safe Proxy wallet seven hours ago. Blockchain data shows that this wallet, starting with (0xc061), received five identical transfers of 1,000 ETH each within the last month. These repeated movements have drawn attention from blockchain analysts and traders.

Although the foundation has not commented on the reason for these transfers, some observers suggest treasury management or operational expenses may be the cause of the consistent transaction size and destination points to a coordinated internal plan.

Additionally, tracking data noted a smaller ETH transfer from Vitalik Buterin’s wallet around the same time, though it was unrelated in scale or pattern.

As Ethereum navigates through market recovery and rising institutional interest, these fund movements are being closely watched. On-chain activity, ETF flows, and key price levels will likely guide short-term sentiment in the days ahead.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.