- Spot Ethereum ETFs in the U.S. have now surpassed $1 billion in total net inflows.
- The Ethereum network is adding between 800,000 and 1 million new wallets per week.
- These factors, combined with a bullish technical setup, support a positive ETH outlook.
A combination of a constructive technical setup, sustained institutional investment via spot ETFs, and an explosion in new wallet creation has brought on a bullish outlook for Ethereum (ETH).
Analysts have now pointed to these three distinct factors as evidence that the leading altcoin is gearing up for a $3,000 breakout.
A ‘Liquidity Grab’ Before a Reversal?
ETH recently dipped into a key support zone around $2,400, an area identified as a liquidity pocket. According to analyst Michaël van de Poppe, this move echoes Ethereum’s previous patterns, grabbing liquidity before a reversal higher. The price has tested the $2,576 resistance multiple times, and the repeated rejections are seen as a sign of momentum building for the next leg up.
“Great consolidation, more than a month, an extreme build-up for a big breakout,” van de Poppe noted. The accompanying chart suggests a successful move above $2,576 could open the door for a push toward $2,800–$3,000 in the near term.
Related: Ethereum Prediction Drops 35%, Experts No Longer See $7K in 2025
Spot Ethereum ETFs See Over $1 Billion in Inflows
Ethereum’s recent strength is backed by institutional flows into U.S.-based spot ETH ETFs. As of June, total net inflows have crossed the $1 billion mark. On June 18 alone, the daily net inflow was $19.10 million, marking three straight days of positive inflows following a brief $2.18 million outflow on June 13.
However, volatility remains. On June 20, ETH ETFs recorded a net outflow of $11.2 million. Notably, BlackRock’s ETH ETF sold $19.7 million, its first recorded outflow since May 7. In contrast, Grayscale’s ETHE attracted $6.6 million, while VanEck’s ETF saw $1.8 million in inflows.
Network Growth Hits 1 Million New Wallets Weekly
Ethereum’s on-chain growth is also accelerating. Data from Santiment shows that ETH is currently averaging 800K to 1 million new wallet addresses per week. This marks a notable increase from the 560K to 670K range seen during the same period last year.
Related: Ethereum Is Becoming the ‘Master Ledger’ for Finance, Says Co-Founder Joseph Lubin
As ETH hovers around the $2,500 level, the surge in address creation suggests rising user engagement and adoption. Santiment described the network’s current utility and growth as “healthier than ever,” reinforcing optimism surrounding Ethereum’s future trajectory.
With key technical levels being defended, sustained ETF demand, and record-breaking wallet creation, Ethereum is in a strong position. The altcoin king could be targeting the $3,000 mark soon if ETF inflows and on-chain momentum continue into July.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
