Ethereum Price Stalls Despite $184M+ ETF Inflows
Ethereum's price action has been steady near $1,900 in recent days. This stability is accompanied by four consecutive positive-flow sessions for U.S. spot Ethereum ETFs through July 22, indicating increased market activity.
The cumulative inflows to these funds have reached over $184 million this month alone. BlackRock's ETHA has led the way with daily increases of up to $53.4 million. Fidelity's FETH ETF added close to $20 million in inflows on Thursday, bringing the total assets under management (AUM) for Ethereum ETFs to over $11.2 billion.
In addition to these ETF flows, futures open interest has gradually increased, reaching a high of $27.7 billion today and jumping from this month's low of $21 billion. However, open interest measures the value of outstanding derivatives positions, so rising numbers do not necessarily confirm bullish positioning or spot demand.