Ethereum (ETH) bulls are setting their sights on a $3.4K target, fueled by significant inflows into ETH ETFs and strategic treasury buying by corporations. This bullish outlook is supported by recent data highlighting strong institutional interest and growing confidence in Ethereum's potential.

ETF Flows: A Bullish Signal

U.S. spot Ethereum ETFs have experienced substantial net inflows, signaling a robust appetite from institutional investors. On July 14, 2025, these ETFs recorded a total net inflow of $259 million. Bitwise's ETHA led the charge, attracting a substantial $151.4 million. BlackRock's iShares ETH fund and Fidelity's FETH also saw notable inflows of $43.8 million and $31.4 million, respectively. Even Grayscale's ETHE fund, which had previously experienced outflows, saw an inflow of $8.9 million, indicating a positive shift in market sentiment.

The week ending July 11, 2025, witnessed a record-breaking $908 million in net inflows into ETH ETFs, marking the ninth consecutive week of inflows. This surge in ETF activity underscores the increasing acceptance of ETH as an institutional-grade asset. Since their launch in July 2024, Ethereum ETFs have attracted cumulative inflows exceeding $5 billion by July 11, 2025, a milestone achieved in just 12 trading sessions. BlackRock's ETHA ETF alone attracted $675 million in inflows during the week ending July 11, raising its total assets under management to $6.29 billion.

The robust inflows into Ethereum spot ETFs suggest growing investor confidence, which is likely to drive further capital into the sector. The total net asset value of Ethereum spot ETFs stands at $13.767 billion, representing 3.8% of Ethereum's total market capitalization.

Corporate Treasury Accumulation

In addition to ETF inflows, Ethereum is increasingly becoming a preferred treasury asset for tech-savvy firms. Corporations are viewing Ethereum as a critical infrastructure component, leading to a surge in ETH allocations within their corporate treasuries. Top corporate Ethereum treasuries have purchased at least $1.6 billion worth of Ether in the past month.

Several companies have been actively accumulating ETH for their treasuries. SharpLink Gaming, chaired by Ethereum co-founder Joseph Lubin, leads corporate ETH holdings with over 280,000 ETH. BitMine, chaired by Fundstrat's Tom Lee, holds 163,142 ETH. Bit Digital has also made a significant shift, selling its Bitcoin holdings to convert into a full Ethereum treasury company and raising $174 million to acquire more ETH. GameSquare has announced a $100 million ETH treasury plan.

SharpLink Gaming expanded its Ethereum treasury with a $48.85 million acquisition of 16,374 ETH, bringing its total holdings to over 270,000 ETH and establishing itself as the second-largest corporate holder of the cryptocurrency behind only the Ethereum Foundation. Bit Digital increased its total holdings to 100,603 ETH after a strategic shift.

These companies are not just holding ETH passively; they are actively participating in Ethereum's Proof-of-Stake consensus mechanism to earn staking rewards and contribute to the network's security. By staking their ETH, these companies earn protocol-native yield and contribute to the stability of the Ethereum network, creating a long-term alignment between corporate capital and protocol health. Ethereum staking has reached all-time highs, with over 35 million ETH staked, representing more than 30% of the total supply.

Price Analysis and Potential Targets

Ether is witnessing selling above the $3,000 level, but analysts say that the bulls have not given up much ground. This suggests investors are expecting more upside. ETH pulled back from $3,083 on Sunday, indicating profit-booking by short-term buyers above $3,000. The first support on the downside is $2,879 and then $2,738. If the price rebounds off the support zone, it suggests solid demand at lower levels, increasing the likelihood of a break above the $3,083 resistance. If that happens, the ETH/USDT pair could surge to $3,153 and subsequently to $3,400.

This positive view will be invalidated in the near term if the price continues lower and breaks below the 20-day exponential moving average ($2,734). That suggests the markets have rejected the breakout above $2,879, and the pair may then slump to $2,500.