Ethereum Closes Q3 with 60% Gain as Institutional Interest Remains Strong
Ethereum has ended Q3 with an impressive 60% gain, placing it among its best quarterly performances to date. According to PrimeXBT data, this strong surge can be attributed to steady institutional interest in the asset. In fact, over the last five trading days through September 29, US spot Ethereum exchange-traded funds (ETFs) saw $287.5 million in net inflows.
Total tracked institutional funds currently hold around 5.91 million ETH, translating to a significant $24.17 billion at current values. This influx of capital has been steady throughout the month, with spot ETH ETFs drawing in approximately $87 million in net inflows on September 25 alone.
Despite this impressive quarterly rally, Ethereum has repeatedly failed to maintain momentum above the key resistance level of $2,800. Analysts now consider a clear and sustained move above this threshold as necessary for further gains toward $3,000 and potentially $3,050 in the near term.