Ethereum price today: $3,900
The Ethereum ETF's impressive growth is “just the tip of the iceberg,” says a BlackRock executive. Ethereum ETFs could grow faster than Bitcoin ETFs if the SEC allows issuers to stake their assets. ETH needs to sustain a move above the key symmetrical triangle to overcome the resistance at the psychological level near $4,000.
Ethereum (ETH) rose 1% on Friday following predictions of increased inflows to ETH exchange traded funds (ETFs). With a change in leadership at the Securities and Exchange Commission (SEC), asset managers expect regulators to allow staking on these products. With this development, the price of ETH could rise to new heights as it aims to surpass the huge psychological barrier of $4,000.
Ethereum ETF could continue its impressive performance in 2025
Things continue to improve for the Ethereum ETF as it continues its impressive flows, recording $273.7 million in net inflows on Thursday, according to Coinglass data. As a result, the number of consecutive inflows for these products increased for 14 consecutive days.
Notably, BlackRock's iShares Ethereum (ETHA) and Fidelity's Ethereum Fund (FETH) accounted for the bulk of the inflows into the ETH ETF, with cumulative flows of $3.19 billion and $1.37 billion, respectively. Climb to the dollar.
Sustained inflows into both products were particularly instrumental in driving total net inflows across the ETH ETF category to $2.24 billion, while weathering Grayscale's $3.52 billion outflow from ETHE.
In a statement on Bloomberg ETF In Depth, Jay Jacobs, BlackRock's U.S. head of thematic and active ETFs, said the current inflows into both BTC and ETH ETFs also reflect its impressive track record. However, he pointed out that this is only the “tip of the iceberg.” He added that BlackRock will focus on expanding the range of both products rather than launching new ETFs for other altcoins.
Meanwhile, asset manager Van Eck predicted that Ethereum ETFs will include staking in 2025. Prior to launch, the issuer allegedly received a signal that the SEC was not happy with this feature and amended its filing to remove the staking ability.
However, with the appointment of Paul Atkins as the next SEC Chairman, the SEC may change its stance regarding staking within ETH ETFs. European crypto provider Bitcoin Suisse said the changes could trigger a new wave of inflows into the commodity, pushing it higher than Bitcoin ETFs.
Ethereum Price Prediction: ETH needs to sustain movement above symmetrical triangle to overcome $4,000 resistance
According to data from Coinglass, Ethereum saw $24.75 million liquidated in the past 24 hours, with liquidated long and short positions accounting for $13.98 million and $10.77 million, respectively.
The major altcoin is trading above the upper bound of a symmetrical triangle pattern after recording a long-tail candlestick that bounced off support levels near $3,550. The candlesticks show that the bears were unable to contain the price after ETH’s sharp decline earlier this week.
ETH/USDT weekly chart
If the upper bound of the symmetrical triangle proves to be a suitable support level, it could help ETH overcome the resistance near $4,000 to $4,100. This is a key level that has proven to be a major sell zone among traders.
A break above this level could test the all-time high resistance level at $4,868.
The Relative Strength Index (RSI) is above the neutral level, indicating that bullish sentiment is prevailing.
Meanwhile, the stochastic oscillator is in oversold territory, indicating that ETH is likely to correct.
This theory is invalidated if the weekly candlestick close price falls below $3,550.
Frequently asked questions about Ethereum
Ethereum is a decentralized open-source blockchain with smart contract capabilities. Its native currency, Ether (ETH), is the second largest cryptocurrency by market capitalization and number one among altcoins. The Ethereum network is tailored for building cryptographic solutions such as decentralized finance (DeFi), GameFi, non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs).
Ethereum is a public decentralized blockchain technology that allows developers to build and deploy functional applications without the need for a central authority. To facilitate this, the network leverages the Solidity programming language and the Ethereum virtual machine, allowing developers to create and launch applications with smart contract functionality.
A smart contract is a publicly verifiable piece of code that automates an agreement between two or more parties. Essentially, these codes self-execute the coded actions if a given condition is met.
Staking is the process of earning revenue from idle crypto assets by locking them in a cryptographic protocol for a specified period of time as a means of contributing to security. Ethereum transitioned from Proof of Work (PoW) to Proof of Stake (PoS) consensus mechanism on September 15, 2022 in an event dubbed “Merge”. This merger was an important part of Ethereum's roadmap to achieve high levels of scalability, decentralization, and security while maintaining sustainability. Unlike PoW, which requires the use of expensive hardware, PoS reduces the barrier to entry for validators by leveraging the use of cryptographic tokens as the core foundation of the consensus process.
Gas is a unit that measures the transaction fees users pay to conduct transactions on Ethereum. When the network is congested, gas can be very high and validators may prioritize transactions based on fees.
