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Ethereum (ETH) maintained its position above $4,000 on Friday, December 7, while ETF investment patterns showed some funds gaining new investments while others lost money.
BlackRock’s iShares Ethereum Trust (ETHA) and Fidelity’s Ethereum Fund (FETH) attracted new investments of 9,140 ETH and 12,650 ETH on December 6. Meanwhile, Grayscale’s Ethereum Trust (ETHE) saw investors withdraw 7,820 ETH. Overall, ETF products gained a net total of 22,130 ETH yesterday, following Wednesday’s larger inflow of $428 million.
ETH traded at $4,024 at 10:00 (UTC) Friday. Trading volume across all ETH derivatives reached $56.13 billion in the past 24 hours, showing a 14.74% decline. The total futures open interest – the value of all outstanding contracts – grew to $28.22 billion, marking a 6.93% increase.
Market data shows significant trading activity across major exchanges, with futures liquidations reaching $34.92 million in the past 24 hours. Of these liquidations, $13.40 million were long positions and $21.53 million were short positions.
Trading activity in Ethereum ETF products remained strong at $1 billion on Thursday, even as the broader market’s 24-hour trading volume dropped 32.37% to $257.3 billion. The total value held in ETF products stands at $12.64 billion.
Grayscale, despite seeing some investors withdraw funds, remains the largest ETF provider with $5.97 billion under management. All ETF products saw their prices move up between 5.98% and 6.25% during the past 24 hours.
Options trading showed steady activity with $846.78 million in volume, though down 9.72% over the previous day. Options open interest stands at $9.99 billion, up 2.79%.
Market data as of Friday morning shows traders are evenly split on Ethereum’s short-term direction, with long and short positions nearly equal at 49.68% and 50.32%. This price level sits about 18% below its highest-ever price of $4,891.70, reached in November 2021.
Ethereum’s stability above $4,000 comes as Bitcoin also holds strong above $99,000.
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