Ethereum price has risen in the past few days, helped by the ongoing ETF inflows and the recently announced US-Iran ceasefire. ETH token was trading at $2,220 on Sunday, up about 30% from its lowest level this year. A three-day chart shows mixed signals for Ethereum’s price this year. One key catalyst is that American investors bought spot ETH ETFs last week, signaling accumulation of ether.
Spot ETH ETFs added over $187 million in inflows last week after shedding assets in the previous three weeks. These funds now hold nearly $12.96 billion in assets. This accumulation has reduced exchange supply to about 12.10 million ETH from over 17.85 million, suggesting ongoing buying pressure.
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