Ethereum (ETH) was trading around the $2,400 level on the 29th (local time). As wariness over the U.S. Federal Reserve's tightening stance has pressured the digital asset market, attention is focused on whether ETH can defend the $2,400 level over the weekend.

Overall Market Down 1.71% in 24 Hours

According to overseas crypto media outlet CoinGape, the entire virtual asset market fell 1.71% over 24 hours during the same period, shrinking its total value to $2.62 trillion. Bitcoin recovered slightly before trading below $78,000, while XRP hovered around $1.38. Ethereum moved between $2,350 and $2,500 ahead of the weekend.

Ethereum ETF Records Net Inflows for 10 Consecutive Trading Days

CoinGape reported that U.S. spot Ethereum exchange-traded funds (ETFs) saw $101.8 million in inflows on the 28th (local time), marking 10 consecutive trading days of net inflows. Total funds entering during this period amounted to approximately $1.52 billion, indicating that institutional demand remained steady despite falling prices.

According to data from CoinGape, these ETFs attracted $824.42 million in weekly inflows, the largest weekly amount since October 2025. The single largest inflow during the streak came on the 27th (local time), when $234.51 million entered in one day.

Cumulative net inflows into spot Ethereum ETFs rose to $12.97 billion, and total assets grew to $15.23 billion. In recent trading, the trading volume of these products reached $1.37 billion.

Demand Concentrates in BlackRock's ETHA... Fidelity Alone Sees Net Outflows

Among individual products, BlackRock's ETHA attracted the most demand, with $83.79 million flowing in over one day, CoinGape reported. ETHA's assets increased to $8.46 billion. However, ETHA's price closed down 2.65% at $18.37, with trading volume reaching $1.04 billion.

According to CoinGape, BlackRock's ETHB also received an additional $42.64 million, bringing its asset size to $889.26 million. In contrast, Fidelity's FETH saw $24.24 million leave, recording the only net outflow. Grayscale, Bitwise, VanEck, and Franklin products saw no change in daily fund flows.

Ethereum's price fell 2.33%, and according to CoinGape, all aggregated Ethereum ETF products also closed lower.

Risk-Off Moves on Fed Tightening Signals... Bitcoin ETFs See Net Outflows

CoinGape reported that while demand for Ethereum ETFs continued, risk-off sentiment emerged in the virtual asset market due to Fed tightening signals. Bitcoin ETFs saw $200.81 million flow out on the 27th (local time).

CoinGape explained that these divergent fund flows demonstrate strong demand for Ethereum even as macroeconomic pressures block immediate price gains. With risk-off movements potentially intensifying ahead of the weekend, analysts say maintaining support levels is critical.

CLARITY Act Faces Hurdles in the Senate

Meanwhile, CoinGape reported that the CLARITY Act, which passed the U.S. House of Representatives, is facing difficulties in the Senate. Lawmakers continued negotiations over provisions related to ethics, anti-money laundering, and law enforcement. According to CoinGape, a vote is scheduled for September 15 (local time) to determine whether the bill can secure the 60 votes needed to proceed with debate. If passed, debate on the bill would begin, moving it to the next stage.

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