Ethereum Price Prediction as ETH ETF Inflows Hit 2-Week High Despite Goldman Sachs Rate Hike Warning

Ethereum (ETH) price briefly touched $2,665 on September 11 amid a surge in inflows to ETH ETFs.

Ethereum’s gains followed the release of the US CPI print that fell in line with expectations. Still, Goldman Sachs warns that the Fed could hike rates at the September 16 FOMC meeting.

Despite the bearish macro pressure from the looming rate hike, Ethereum price had gained by 2% at the time of writing, to trade at $2,515.

Ethereum ETFs Outperform All Crypto Funds as Inflows Surge

Data from SoSoValue shows that inflows to Ethereum ETFs reached $216.41 million on September 11, with this being the highest inflow recorded by these products since August 27.

Ethereum was also the only crypto fund that saw inflows, with Bitcoin (BTC) and Solana (SOL) recording outflows while Ripple (XRP) recorded zero flows.

The BlackRock Ethereum Trust (ETHA) recorded the highest inflows of $148 million, while the Bitcoin Ethereum ETF had the second-highest inflows of $29 million.

The total value traded for all Ethereum ETFs also topped $2.56 billion, with this nearly equaling Bitcoin’s $2.6 billion in value traded.

Goldman Sachs Rate Hike Bet Fails to Weaken ETF Demand

Goldman Sachs has changed its tune on whether the Fed will hike or trim interest rates at the September 16 FOMC meeting.