Ethereum eyes $2,000 target as institutional investors pour capital into ETH funds


  • Ethereum investment products received an inflow of $2.7 million from institutional investors, according to a recent report. 
  • Ether recorded the second largest capital inflow after Bitcoin CoinShares data shows. 
  • The altcoin is inching closer to the $2,000 psychological target amid rising capital inflow and interest from investors.

Ethereum ranks highest among altcoins in terms of institutional capital inflow, according to CoinShares’ latest report. While Bitcoin dominates the capital inflow from investors, Ethereum funds have observed a $2.7 million inflow over the past week.

Ethereum price is in an upward trend on Binance and the altcoin is closer to breaking past the key psychological target of $2,000.

Also read: Ethereum creator Vitalik Buterin believes staked Ether is at risk of being stolen

Ethereum attracts $2.7 million capital from institutional investors

While Bitcoin, the largest cryptocurrency by market capitalization, scooped up the biggest chunk of inflows from institutional investors, Ethereum funds amassed $2.7 million. After months of outflow from crypto funds, Ethereum funds have garnered the attention of institutional clients. 

CoinShares fund flows report by asset

CoinShares fund flows report by asset

Outflows this week were from funds that are short Bitcoin and Ethereum competitors like Solana. The interest from institutional clients and the corresponding capital inflow fuel a bullish thesis for Ethereum price recovery.

At the time of writing, ETH is exchanging hands at $1,975.56 on Binance.

Ethereum price eyes $2,000 target 

Ethereum price has been in an upward trend since mid-June 2023. The altcoin climbed to $1,975.56 at the time of writing, wiping out losses from May. Ethereum price is currently above all three  10, 20 and 200-day Exponential Moving Averages (EMAs) at $1900.63, $1,843.32, and $1,748.66, respectively. 

ETH/USD one-day price chart

ETH/USD one-day price chart

If Ethereum price continues its uptrend, it is likely to hit the $2,000 target in the short term. A decisive break past $2,000 would confirm the bullish sentiment among ETH holders.

A decline below the 10-day EMA at $1,900.63 could invalidate the bullish thesis, with next support at the $1,840 zone.


Like this article? Help us with some feedback by answering this survey:


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction

SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction

The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.

More TRON News

XRP fails to break past $0.50, posting 20% weekly losses

XRP fails to break past $0.50, posting 20% weekly losses

XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22. 

More Ripple News

ImmutableX extends recovery despite $69 million IMX token unlock

ImmutableX extends recovery despite $69 million IMX token unlock

ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19. 

More Cryptocurrencies News

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in

Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

More Bitcoin News

Bitcoin: BTC post-halving rally could be partially priced in Premium

Bitcoin: BTC post-halving rally could be partially priced in

Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

Read full analysis

BTC

ETH

XRP