Ethereum traded at $2,436 on August 29, 2026, down 2.33% on the day, while the broader crypto market slipped 1.71% to a total market capitalization of $2.62 trillion. Bitcoin was below $78,000 and XRP traded near $1.38, but the ETH price action masked a notable institutional bid.
U.S. spot Ethereum ETFs recorded $102.18 million in net inflows on August 28, extending a streak of 10 consecutive positive flow days. Total inflows across that period reached approximately $1.52 billion, including the strongest weekly total in about 10 months of roughly $697 million for the week ending August 21, according to SoSoValue.
BlackRock dominated the flow picture. Its ETHA fund attracted about $1.02 billion over nine straight sessions from August 17 to August 27, representing roughly 72% of all U.S. spot Ethereum ETF inflows during that window. August 27 was the strongest single day with $225.8 million, the highest daily figure since October 28, 2025. ETHA's cumulative net inflows since its July 2024 launch now stand near $12.74 billion, with net assets around $8.46 billion. Arkham data showed the roughly 385,633 ETH accumulated over eight days implies an average purchase cost between $2,490 and $2,550, below ETHA's lifetime average cost basis of approximately $3,060.
ETF flows are client-driven rather than proprietary BlackRock purchases. When investors buy ETHA shares, the fund acquires Ethereum through Coinbase Prime. Fidelity's FETH was the only fund to post outflows on August 28, losing $24.26 million, while Grayscale, Bitwise, VanEck and Franklin products reported no daily change.
Technically, ETH's RSI stood at 44.09, indicating reduced momentum without being oversold. The MACD line sat at 0.65, below the signal line at 12.62, with the histogram at -11.97. Analysts flagged key support at $2,350 and resistance at $2,500. Ash Crypto noted ETH/BTC is compressing into a triangle; a breakout above the trendline could push ETH toward $2,800, while a rejection could send it to $2,000–$2,200. Michaël van de Poppe added that a confirmed breakout could carry ETH to $3,200 or $3,500.
Broader regulatory attention remains in focus: the CLARITY Act, which passed the House, faces a Senate cloture vote on September 15 requiring 60 votes to advance. Separately, market chatter on August 30 highlighted a claimed $2.48 million gain on an Ethereum position by Unipcs, reflecting a 37x return on a position valued at $2.55 million and underscoring the strong narrative around Ethereum accumulation.
