Ethereum's price had a strong start to October, fueled by the so-called "Uptober" rally and increased inflows into exchange-traded funds (ETFs), as it approaches a crucial milestone.

 

Ethereum ETF Inflows Approach a Milestone

Ethereum
Ether
0.94%
Ethereum Gold briefly breached $4,500 after rising nearly 20% from its September low. This rally could continue in the coming days, forming a rare bullish flag pattern.

Data compiled by SoSoValue shows that spot Ethereum ETFs experienced a strong rebound this week. These funds saw inflows exceeding $1.3 billion, a sharp rebound after losing $795 million of their assets the previous week.

The ETFs have now recorded cumulative inflows of $14.42 billion—a figure that could surpass $15 billion next week if the trend continues.

 

BlackRock's ETHA ETF holds the largest market share in this sector. It recorded $206.7 million inflows on Friday, bringing its total assets under management to $17.8 billion. Fidelity's FETH ETF has $3.35 billion in assets.

Ethereum ETFs have gained strong momentum this year, supported by the ongoing cryptocurrency market rally that has pushed Bitcoin
Bitcoin
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Bitcoin to a record high.

 

Flows surged this week as investors turned to cryptocurrencies as a safe haven amid the government shutdown. They also rose following a report from ADP, which showed a weak labor market in September, with more than 36,000 jobs lost, increasing expectations of an interest rate cut by the Federal Reserve.