Ethereum (ETH) rose above $2,600 as spot ETF inflows hit a two-week high, even while Goldman Sachs flagged the risk of a Federal Reserve rate hike.
Key Points:
- U.S. spot Ethereum ETFs drew $216.41 million on Sep. 11, their strongest daily inflow since Aug. 27.
- ETH briefly reached $2,665, while analysts identified $2,700 to $2,800 as the next major supply zone.
- A possible 25-basis-point Fed hike remains a macro risk, but analysts still see a path toward $3,000.
Ethereum ETF Inflows
Ethereum briefly touched $2,665 on Sep. 11 after U.S. inflation data matched headline expectations and demand for spot ETH exchange-traded funds accelerated. The token later traded near $2,515, up about 2%.
SoSoValue data showed the funds attracted $216.41 million in net inflows, the highest daily total since Aug. 27. BlackRock’s ETHA led with about $148 million, while the second-largest fund inflow was roughly $29 million.
Ethereum funds were also the only major crypto ETF category in the report to record inflows, while Bitcoin (BTC) and Solana (SOL) products posted outflows and XRP (XRP) funds were flat. Total Ethereum ETF trading volume reached about $2.56 billion, close to the roughly $2.6 billion recorded by Bitcoin funds.
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Goldman Rate Risk
The inflows arrived as Goldman Sachs pointed to a possible 25-basis-point Federal Reserve rate hike at the Sep. 16 meeting after core CPI rose 0.3% month over month. That was above the 0.2% forecast, while CoinGape prediction markets put the probability of a hike at 79%.
Goldman Sachs analyst Jonathan Shugar said risk assets could still advance even if the Fed raises rates. The Bank of Japan was also expected to hike on Sep. 16, following a 25-basis-point increase from the European Central Bank.
On-chain activity added another test for the rally. Analyst Ali Martinez said more than 10 million ETH had traded between $2,700 and $2,800, creating a supply wall buyers would need to clear before $3,000 comes into view.
Martinez also said transactions worth more than $1 million rose 14% on Sep. 11, linking the increase to whale activity during the move. Ted Pillows separately said a weekly close above $2,550 could open a path toward $3,000.
Technically, ETH broke above consolidation resistance near $2,516, while the article identified $2,390 as the lower trendline that would weaken the bullish setup. A similar breakout in Aug. 2026 preceded a 31% gain, making the current range another test of whether recent momentum can extend rather than fade.
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