Ethereum ETF Witnesses Unprecedented 10-Day Inflow Surge: Can ETH Reach $3,000?
An impressive 10-day consecutive period of robust capital inflows into spot ETH ETFs demonstrates growing investor appetite for Ether. Could the $3,000 price level be within reach?
Key takeaways:
- Spot ETH ETFs have experienced ten straight days of positive net inflows, accumulating $633 million in total.
- Decentralized application revenue on the Ethereum blockchain decreased to $13 million weekly, mirroring broader downturns observed across Solana and BNB Chain networks.
On Thursday, Ether (ETH) faced difficulties breaking through the $2,400 threshold, yet persistent capital flows into Ethereum spot exchange-traded funds (ETFs) demonstrate bullish traders' efforts to restore upward momentum. The price of Ether advanced in tandem with Bitcoin's (BTC) rebound to $79,000, leading market participants to speculate whether ETH might attempt a climb toward $3,000.
By Wednesday, the spot ETH ETFs had achieved a remarkable milestone of 10 consecutive trading days recording net inflows, with cumulative figures reaching $633 million. This development indicates that market participants are slowly rebuilding their confidence following ETH's sharp 42% decline that occurred between Jan. 28 and Feb. 6. The severe cryptocurrency market downturn diminished enthusiasm for decentralized applications (DApps), which presented particularly challenging conditions for ETH holders.
The revenue generated by DApps operating on the Ethereum network plummeted to $13 million weekly in April, representing an almost 50% reduction compared to levels recorded six months earlier. Nevertheless, the contraction in decentralized exchange (DEX) trading volumes has similarly impacted other leading blockchain competitors to comparable degrees, encompassing Solana, BNB Chain, and Hyperliquid. Total weekly revenue across all blockchain DApps has contracted to $73 million, declining from $130 million recorded in October 2025.
Ethereum well-positioned to capture demand for DApps
Notwithstanding the recent upward price action, ETH has declined 22% on a year-to-date basis in 2026, whereas the comprehensive cryptocurrency market capitalization has fallen 14%. The relative underperformance of Ether could potentially be viewed as an attractive entry point, particularly considering that the Ethereum network continues to dominate in total value locked (TVL) while its layer-2 scaling solutions have secured substantial market share in DEX trading volumes.
Irrespective of the positive ETF inflows, appetite for leveraged bullish ETH trading positions has deteriorated to its weakest point over the past four months.
On Thursday, the annualized premium for ETH monthly futures contracts compared to standard spot markets (basis rate) fell to 1%, significantly beneath the 4% neutral benchmark. However, it would be inaccurate to conclude that institutional traders are anticipating price declines exclusively based on diminished confidence within derivatives markets. The unpredictable macroeconomic landscape could account for trader caution, particularly following disappointing quarterly earnings reports from prominent technology corporations.
Shares of IBM (IBM US) experienced a nearly 10% decline on Thursday stemming from investor apprehension regarding heightened competition from the artificial intelligence sector, according to Yahoo Finance. Simultaneously, Morgan Stanley reduced its price target for Oracle (ORCL US) citing ambiguity surrounding the margin profile and construction expenses associated with the company's growing investment in AI computing data centers.
The potential for bullish price momentum in Ether presumably hinges on diminishing risk aversion among cryptocurrency investors, considering that its price performance chart when compared to several competing platforms displays remarkable parallels. While the recent inflows into spot Ether ETFs carry significance, they appear insufficient to warrant a price decoupling, particularly given that activity within the DApps ecosystem has not yet demonstrated indications of recovery.
Currently, there exists no clear evidence suggesting ETH is destined to reach $3,000, though the Ethereum network appears strategically positioned to benefit from any eventual resurgence in demand for decentralized computation services.