Institutional Funds Flocking to Ethereum… "Will Break All-Time High Next Year"

Cryptocurrency A to Z

Continuous Inflow into Spot ETFs

Asset Management Firms' Purchase Volume

Reaches $830 Million in a Week

Hovering at $3900 for a Week

"If Institutional Buying Continues,

It Will Surpass $7000 Next Year"

As Bitcoin surpasses the $100,000 mark, the cryptocurrency industry is focused on whether Ethereum, the leading altcoin, will break its previous high of $4,868.

Ethereum has been hovering around $3,900 after surpassing the $4,000 resistance level on the 6th. Some predict that with the inflow of institutional funds, Ethereum's price could rise to as much as $7,000.

As of the 12th, Ethereum spot exchange-traded funds (ETFs) traded in the U.S. have recorded a net inflow for 14 consecutive days. During this period, Ethereum has risen by more than 20%. Over the past week, the volume of Ethereum purchased by asset management firms amounts to $831.24 million (approximately 1.19 trillion won).

Asset management firm Bitwise recently reported, "Ethereum has underperformed compared to other cryptocurrencies. However, Ethereum spot ETFs continue to see significant inflows," and analyzed that "based on this, Ethereum's price could rise to as much as $7,000 by next year."

The decentralized finance (DeFi) project World Liberty Financial, led by U.S. President-elect Donald Trump's family, is also seen as a positive factor for Ethereum's price increase. World Liberty Financial has been consistently accumulating Ethereum and currently holds about $50 million worth of it.

Andrew Kang, co-founder of Mechanism Capital, stated, "The outlook on Ethereum has turned positive because World Liberty Financial is accumulating it." Jang Kyung-pil, Chief Strategy Officer (CSO) of Xangle, also believes that Ethereum could be re-evaluated next year due to the influence of World Liberty Financial.

Hwang Doo-hyun, Bloomingbit reporter cow5361@bloomingbit.io