Ethereum (ETH) held positions above $4,000 on Friday, December 7, and ETF investment patterns showed some funds gaining new investments while others suffered losses.
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, investors withdrew 7,820 ETH from Grayscale’s Ethereum Trust (ETHE). Overall, ETF products gained a total of 22,130 ETH yesterday, following massive inflows of $428 million on Wednesday.
ETH was trading at $4,024 at 10:00 (UTC) on Friday. Over the last 24 hours, trading volume for all ETH derivatives reached $56.13 billion, a decrease of 14.74%. Total futures open interest (the value of all open contracts) increased 6.93% to $28.22 billion.
Market data shows significant trading activity across major exchanges, with futures clearing reaching $34.92 million over the past 24 hours. During the liquidation, $13.4 million was in buy positions and $21.53 million was in sell positions.
Trading activity in Ethereum ETF products remained strong at $1 billion on Thursday, despite overall market 24-hour volume falling 32.37% to $257.3 billion. The total value of ETF products is $12.64 billion.
Despite some investors withdrawing their funds, Grayscale remains the largest ETF provider with $5.97 billion under management. The prices of all ETF products rose between 5.98% and 6.25% in the last 24 hours.
Options trading decreased 9.72% from the previous day, but showed steady activity with trading volume of $846.78 million. Options open interest increased 2.79% to $9.99 billion.
Friday morning market data shows traders are evenly split on Ethereum’s short-term direction, with long and short positions roughly equal at 49.68% and 50.32%. This price level is approximately 18% lower than the all-time high of $4,891.70 reached in November 2021.
Ethereum’s stability above $4,000 comes as Bitcoin also remains above $99,000.