ETH ETF Flows, Onchain Volume Signal Acquisition to $2.4K
Main Receptors:
Ether exchange funds received 71 million dollars, which showed strong institutional appetite.
Weekly decentralized foreign exchange volume doubled to $20 billion, narrowing the revenue gap with Solana.
The price of Ether (ETH) failed to maintain levels above $2,000 on Thursday, prompting traders to weigh the possible reasons for a market reversal. While post-crash optimism eased to $1,745 on Friday, both exchange-traded fund (ETF) flows and ETH derivatives metrics are showing early signs of a reversal.
Now traders are asking if there is enough momentum to get back to $2,400.
US-listed Ether ETFs pulled in $71 million in new capital between Monday and Tuesday, breaking a three-day streak. Crucially, assets under management stabilized at $13 billion, sufficient to maintain institutional leverage. Ether ETF currently averages more than $1.65 billion in daily trading volume, the level of liquidity among the world's largest hedge funds.
To put Ether ETFs in perspective, the State Street Energy Select Sector SPDR ETF (XLE US)—the largest in the US energy sector—trades an average of $1.5 billion per day. That tool tracks companies like Exxon (XOM US), Chevron (CVX US), ConocoPhillips (COP US), The Williams Companies (WMB) and Kinder Morgan (KMI US) with a combined market capitalization of $2 trillion.
ETH metrics and ETF earnings indicate market recovery
While this is a positive indicator of institutional appetite for Ether ETF trading, it does not guarantee that demand for ETH derivatives is inherently bloated.
On Wednesday, ETH futures annualized premium (base rate) remained below the neutral threshold of 5%. This lack of leverage has been a constant theme for the past three months. However, the index stabilized at 3%, although the price of ETH reached its lowest level in nine months. These derivatives markets are showing some resilience, which remains an encouraging sign for Ether investors.
Related: Denmark's Danske Bank Allows Customers to Buy Bitcoin and Ether ETPs
Ether's price weakness pushed Ethereum's total value locked (TVL) to $54.2 billion, down from $71.2 billion a month ago, according to Defillama data. Reduced deposits in the network's smart contracts represent a major risk, as lower on-chain fees reduce native stock production. Moreover, Ethereum's supply burning mechanism remains dependent on the excessive demand of the blockchain process.
Despite these worsening conditions, demand for Ethereum decentralized applications (DApps) is slowly improving throughout 2026.
The weekly decentralized exchange (DEX) on the Ethereum network rose to $20 billion, up from $9.8 billion a month ago. This increased activity led to DApps revenue reaching $26.6 million in the seven days ending February 8, an indicator of healthy demand for ETH. While Solana is the clear leader in weekly DApps revenue at $31.1 million, the gap between the two networks is narrowing.
ETH onchain meters and derivatives, which only track Ether's price performance, have shown resistance, especially as it continues towards the close of Ether ETFs. While it may take a couple of weeks for investors to gain full confidence, there are strong indications that a rally near $2,400 is possible.
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