Ethereum Bounces Back as Fund Holdings Grow, $4.3K Next?

Key Notes

• Ether holds steady above $4,100 after testing key support.
• Institutional fund holdings show sharp growth in Ethereum.
• Analysts eye possible short-term rally toward $4,300.

Ethereum

ETH $4 125

24h volatility: 0.6%

Market cap: $497.68 B

Vol. 24h: $29.20 B

is trading slightly lower but stable above the $4,100 mark as of Oct. 28, after briefly testing support near $4,050. The second-largest cryptocurrency has so far failed to break past the $4,250 resistance, but analysts remain optimistic that a rebound is near.

At the time of writing, ETH is trading around $4,117, down about 1% in the past 24 hours. Popular market analyst Ted noted that Ethereum’s price action reflects a “strong bounceback” and could push toward the $4,200–$4,300 range in the short term.

This optimism comes as Ethereum outpaced Bitcoin in institutional accumulation and fund holdings growth.

Ethereum Fund Holdings See Institutional Surge

Recent data from CryptoQuant reveals a widening gap between Bitcoin

BTC $114 577

24h volatility: 0.7%

Market cap: $2.28 T

Vol. 24h: $48.47 B

and Ethereum when it comes to institutional positioning. While both assets continue to attract long-term investors, the pace of capital inflows has shifted in Ethereum’s favor over the past year.

Bitcoin fund holdings currently stand at around 1.3 million BTC, reflecting a 36% increase over the past 12 months. On the other hand, Ethereum has seen a 138% surge in total fund holdings, now totaling roughly 6.8 million ETH.

Ethereum fund holdings | Source: CryptoQuant

The sharp rise aligns with strong inflows into spot ETH ETFs, higher staking participation, and Ethereum’s central role in DeFi, tokenization, and layer-2 ecosystems.

The ETH/BTC fund holdings ratio has shifted dramatically, from three-to-one last year to nearly five-to-one today. This suggests that the top crypto is increasingly seen as core yield-bearing infrastructure rather than a speculative alternative.

Corporate Activity Adds Mixed Signals

Despite bullish fund data, ETHZilla, a crypto-focused firm, recently sold about $40 million worth of ETH while using $12 million to repurchase its own stock. Market watchers cautioned that such maneuvers could signal shifting liquidity priorities rather than long-term conviction.

Corporate treasuries have generally slowed their crypto accumulation since the October market downturn, with most firms staying on the sidelines. One major exception is BitMine, the only consistent large-scale buyer in recent weeks.

BitMine has spent over $1.9 billion since Oct. 10 to acquire nearly 483,000 ETH.

Related article: Ethereum Price Moves Above $4K as SharpLink Confirms $3.5B ETH HoldingsMeanwhile, Ether ETFs kicked off the week on a positive note. On Oct. 27, these funds recorded $134 million in net inflows, led by BlackRock’s ETHA ETF.

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