On-chain data provider GlassNode has released a report on the second most popular cryptocurrency, Ethereum, and its bullish outlook.
Ethereum breaks out and rises by 13.5%
This week, Ethereum demonstrated impressive growth of over 13.5%, surged from $2,481 to a level of $2,818. However, over the past 24 hours, ETH has rebounded 2.16%, with press time changing hands at $2,765 per coin.
#ethereum broke out from the one month range. The cost-based distribution shows approximately $27,000 and 2.74k$2.74K, with 1.3m$ETH held at 800K #ETH at 2.76K. These investors accumulate during the consolidation and could now form a strong support zone. pic.twitter.com/x6zqrnziyf
– GlassNode (@GlassNode) June 11, 2025
In a recent tweet, Crypto analyst and trader Ali Martinez shared that before he becomes bullish on the cryptocurrency, he believes he will have to wait until Ethereum shows its lasting close by over $2,750. Savvy trader Peter Brandt highlighted this Ethereum breakout and shared the charts. However, he mentioned Ethereum about the meme coin, hinting that both would equally mark a short-lived price breakout. Brandt usually supports Bitcoin, but sometimes tweets about ETH.
ETH levels of 1.3 million could form strong support
GlassNode summed up to the community that Ethereum has dissolved from its price consolidation range that lasted for about a month. Cost-Based Distribution (CBD) analysis shows the astounding 1.3 million animals held by investors and traders at prices of $2,700 and $2,740, and approximately 800,000 ETH at $2,760.
All these ETH coins were accumulated during the integration phase. Currently, these levels could form a strong support zone as Ethereum continues to rise.
BlackRock ETF grabs 13,620 ETH
According to a recent tweet published by Analytics X Account LookonChain on June 10, the Spot Ethereum Exchange-Traded Funds (ETF) was sucked up at a significant 22,145 ETH worth $61.38 million.
Updated June 10th:
10 #bitcoin etfs
Netflow: +3,565$btc (+$391.43m) 🟢 # Fidelity inflow 1,593$BTC ($174.86M) and currently holds $198,075 (21.75B).9 #ethereum etfs
Netflow: +22,145 $ETH (+$61.38m)– lookonchain (@lookonchain) June 10, 2025
The BlackRock Islands Ethereum Trust has acquired the largest portion of these ETH influx, scooping up 13,620 ETH, $37.75 million. As of June 10th, it owns 1,526,751 Ethereum, worth $4,230 billion.
Fidelity bought 4,994 ETH, equal to $13,833,582, while Grayscale Ethereum Mini Trust got 3,761 ETH, for $10,414,819. The Invesco Galaxy got 3 ETH, and the rest of the ETF saw zero inflows except for the grayscale Ethereum Trust. The latter faced a spill of 233 ETH.
The weekly influx into Spot ETH ETFs constituted 96,059 ETH. This is $265,929,340.
