Traditional finance investments may affect the price #إيثيريوم
Ethereum is attracting strong institutional interest. It has seen new investments in exchange-traded spot Ethereum (ETH ETFs) in the United States exceeding $812 million over just 14 consecutive trading sessions, representing more than double the new investments in Bitcoin funds during the same period. According to Bloomberg, 9 Ethereum ETFs are leading this wave, with funds like BlackRock's ETHA and Fidelity's FETH capturing the largest share of daily trading volumes.
These surprising investments from the traditional finance sector - which included a jump of $240 million on June 11 alone - indicate that hedge funds, registered investment advisors (RIAs), and asset managers are increasingly moving towards entering the crypto market through Ethereum.
Ethereum price facing technical obstacles
Despite the overall positive sentiment, Ethereum's price prediction remains stuck below key resistance areas. After bouncing off the $2,439 level, the price failed to break through the 23.6% Fibonacci retracement level at $2,518 and rise above it, as well as the 50-day EMA at around $2,614.