Ethereum ETF Demand Falters as Price Struggles to Break $2,500

Ethereum's price has struggled to break through the $2,500 barrier as demand from US spot Ethereum ETFs battles profit-taking.

According to Coingecko, ETH was trading at $2,485.53 on August 28 after moving as high as around $2,555 over the past 24 hours before sellers pulled it back below $2,500.

The token remains up 6.2% over seven days and 32.1% over 14 days, keeping much of the recovery from its August lows intact.

US spot Ethereum ETFs have provided one of the main sources of demand behind the recovery, with funds recording an eighth consecutive session of net inflows on Wednesday, adding roughly $192 million and taking the streak above $1 billion.