Ethereum Investment Products Surge Towards $1 Billion Monthly Inflows

Key Highlights

• Ethereum investment products have attracted $879 million in June, nearing the $1 billion monthly inflow milestone.
• Whale wallets added 818,000 ETH in a single day, marking the largest accumulation since 2018.
• A golden cross is forming on ETH’s daily chart, historically indicating significant price rallies.

Ethereum's Growing Institutional Appeal

According to a report from CoinShares dated June 13, Ethereum's month-to-date inflows have reached $879.1 million, with year-to-date flows totaling $2 billion. This accounts for approximately 14% of total assets under management (AUM), which currently stands at $14.9 billion. The recent surge in inflows follows the approval of spot Ethereum exchange-traded funds (ETFs) in the United States in July 2024, which has provided direct institutional access to ETH.

Comparison with Bitcoin

While Bitcoin continues to lead with $1.33 billion in inflows last week and $11.45 billion year-to-date, Ethereum is rapidly closing the gap. This trend is driven by an increasing appetite for yield-bearing crypto assets and the broader adoption of staking.

Whale Accumulation Signals Confidence

On a recent Sunday, Ethereum whales holding between 1,000 and 10,000 ETH added over 818,000 ETH (approximately $2.5 billion) to their wallets, the largest daily accumulation since 2018. This group’s total holdings have now surpassed 16 million ETH, up from 11.9 million ETH a year ago, indicating strong conviction among early adopters and funds, which often precedes significant market movements.

Technical Analysis: Golden Cross Setup

Technical indicators are showing bullish signs for Ethereum as a potential "golden cross" is forming on the daily chart. This occurs when the 50-day exponential moving average (EMA) crosses above the 200-day EMA, typically interpreted as a medium-term bullish reversal signal. Crypto analyst Ted Pillows noted that the last time this pattern appeared, ETH rallied over 35% within weeks. Currently, the price is consolidating just above the convergence point of these two moving averages, suggesting a potential setup for another strong upward move if the crossover is confirmed.