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Inflows into Ether exchange-traded funds (ETFs) have turned positive for the first time in over two weeks.
The nine US spot Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow" target="null" text="null">ETH</a>) ETFs recorded a cumulative $5.9 million worth of net positive inflows, marking the first green day since Aug. 14.
BlackRock’s ETF (ETHA) saw the largest daily inflow of $8.4 million, according to Farside Investors <a data-ct-non-breakable="null" href="https://farside.co.uk/eth/" rel="noopener noreferrer nofollow" target="null" text="null">data</a>.
<figure><img alt="Ether ETF flows turn positive for first time in 2 weeks, bolstered by BlackRock" name="" src="https://s3.cointelegraph.com/uploads/2024-08/01919e82-2bb4-7666-a770-a12cdffc2e63">
 <figcaption style="text-align: center;">
 Ethereum ETF Flow (USD, million). Source: Farside Investors
 </figcaption>
</figure>
<a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/what-are-etf-fund-flows-and-why-do-they-matter" rel="noopener noreferrer nofollow" target="_self" text="null">Inflows</a> turned positive thanks to slowing outflows from Grayscale’s Ether ETF (ETHE), which saw the smallest daily outflow in over two weeks, $3.8 million.
However, Grayscale has sold over $2.5 billion worth of Ether since the ETFs <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/grayscale-transfers-1b-eth-coinbase-ahead-ether-etf-launch" rel="noopener noreferrer nofollow" target="null" text="null">started trading on July 23</a>, threatening to introduce more potential selling pressure.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-green-monthly-close-64-3k" rel="noopener noreferrer nofollow" target="null" text="null">Can Bitcoin get a green monthly close above $64.3K?</a>
<h2 id="ether-price-down-25-since-eth-etf-launch">Ether price down 25% since ETH ETF launch</h2>
Despite widespread expectations around the historic debut of the US Ether ETFs, ETH price has been in a downtrend.
Ether price fell over 25% since the ETH ETFs debuted over a month ago, from $3,441 on July 23 at launch, to the current $2,561, as of 2:14 pm UTC. 
<figure><img alt="Ether ETF flows turn positive for first time in 2 weeks, bolstered by BlackRock" name="" src="https://s3.cointelegraph.com/uploads/2024-08/01919e82-bdb4-75ec-8435-9e80c6d184c6">
 <figcaption style="text-align: center;">
 ETH/USD, 1-day chart. Source: TradingView
 </figcaption>
</figure>
Zooming out, Ether's price is up nearly 13% year-to-date (YTD) and over 56% during the past year.
Investors anticipated a significant price increase from the launch of the Ether ETFs. For Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null">BTC)</a>, spot ETFs accounted for about <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-etfs-about-75-new-investment" rel="noopener noreferrer nofollow" target="null" text="null">75% of new investment</a> in the cryptocurrency by Feb. 15 as it surpassed the $50,000 mark.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ether-whales-accumulate-540m-price-bottom-nears" rel="noopener noreferrer nofollow" target="null" text="null">Ethereum whales buy big as ETH bottom approaches, analysts predict</a>
<h3 id="ether-trapped-under-crucial-2-7k-resistance">Ether trapped under crucial $2.7K resistance</h3>
Ether price remains trapped under the key $2,700 resistance line, according to Aurelie Barthere, the principal research analyst at Nansen onchain analytics platform.
The analyst told Cointelegraph:
<blockquote>
 “2.7k is the next resistance level for ETH, and there is not enough evidence that it is broken yet. Because price did not hold above this resistance for long enough and with enough volume.”
</blockquote>
<figure><img alt="Ether ETF flows turn positive for first time in 2 weeks, bolstered by BlackRock" name="" src="https://s3.cointelegraph.com/uploads/2024-08/01919e84-5fbf-7245-9320-4c5121cbc572">
 <figcaption style="text-align: center;">
 ETH/USD, 1-day chart. Source: Nansen
 </figcaption>
</figure>
A hypothetical rally above $2,700 would liquidate over $362 million worth of cumulative leveraged short positions across all crypto exchanges, according to Coinglass <a data-ct-non-breakable="null" href="https://www.coinglass.com/pro/futures/LiquidationMap" rel="noopener noreferrer nofollow" target="_blank" text="null">data</a>.
 
<figure><img alt="Ether ETF flows turn positive for first time in 2 weeks, bolstered by BlackRock" name="" src="https://s3.cointelegraph.com/uploads/2024-08/01919e84-b3b7-780b-8d01-efede2a912e1">
 <figcaption style="text-align: center;">
 ETH Exchange Liquidation Map. Source: Coinglass
 </figcaption>
</figure>
Meanwhile, traders are eying a potential <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/3k-ethereum-price-breakout-delayed-october" rel="noopener noreferrer nofollow" target="null" text="null">Ether breakout above $3,000 in October</a>, as the market recovers from the summer illiquidity.<iframe width="100%" height="315" src="https://www.youtube.com/embed/qihdsUa_zdY" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
Trump vs. Harris: Who Would Be Better for Crypto? Source: <a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=qihdsUa_zdY" rel="noopener noreferrer nofollow" target="_blank" text="null">YouTube</a>
 Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-sec-defi-phishing-malware-hackathon/" rel="noopener noreferrer nofollow" target="null" text="null">$55M DeFi Saver phish, copy2pwn hijacks your clipboard: Crypto Sec</a>

Ether ETF flows turn positive for first time in 2 weeks, bolstered by BlackRock

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