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ETH ETF Holdings Hit 6.4M As Ether Tags $4.6K

Federal Reserve, Markets, Price Analysis, Market Analysis, Ether Price, Ethereum Price, Whale, Ethereum ETF

Key takeaways:

  • Spot Ether ETFs posted record inflows of $7.88 billion across July and August, driving custodial holdings to 6.42 million ETH.

  • ETH tags $4,650 following a 10% rally after Powell hints at a potential rate cut in September.

Ether rallies 10% after Powell’s Jackson Hole speech

Ether breached the $4,350 resistance on Thursday, testing the supply zone between $4,550 and $4,650 after Federal Reserve Chair Jerome Powell signaled the possibility of a rate cut in September, sparking a sharp reaction across risk assets.

Powell’s remarks highlight a shifting policy stance, noting that the balance of risks “may warrant adjusting policy.” The Fed Chair flags rising downside risks to employment, softening labor supply in line with demand, and the Fed’s move away from the flexible average inflation targeting framework. Importantly, Powell also cautioned that stable inflation expectations cannot be taken “for granted.”

Ether four-hour chart. Source: Cointelegraph/TradingView

The speech provided the catalyst for Ether’s breakout, with ETH posting an hourly return of 7% immediately following the comments. The move marks a decisive close above the $4,350 barrier, a level tested five times earlier this week, confirming a short-term bullish break of structure. The bullish breakout also took place at the back of an inverse head-and-shoulders pattern, outlining a bullish setup before Powell’s speech. 

With momentum now turning upward, ETH could extend gains toward near highs above $4,800, where sellers may look to reassert pressure.

Related: BlackRock leads $287M spot Ether ETF inflows after 4-day outflow streak

ETH becomes TradFi’s new darling

Ether (ETH) continues to solidify its role as a new favorite among institutions and corporate treasuries, with spot ETH ETFs driving historic inflows. July recorded net inflows worth $5.43 billion, followed by another $2.45 billion in August, the strongest quarter of ETH ETF demand on record.

Data from CryptoQuant shows that ETH custodial holdings within ETFs reached 6.42 million ETH on Aug. 21, up from 4.15 million ETH on July 8, representing a cumulative increase of 2.27 million ETH in just six weeks. This represents roughly 58% growth over the period, marking one of the most aggressive accumulation phases since ETH ETFs went live.

Total ETH ETF holdings. Source: strategicethreserve.xyz

CryptoQuant noted that rapid inflows into ETFs represent a “structural demand shock,” as tokens are locked into…

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