Ethereum’s institutional inflow streak halted on Friday, with spot Ether ETFs recording their first net outflows in nearly three weeks. Data from Farside Investors revealed a $2.1 million outflow**, primarily driven by Fidelity’s FETH product, which saw an **$8.8 million withdrawal. The mini Grayscale Ether ETF was the sole exception, attracting $6.7 million in inflows**, while other U.S.-based Ethereum ETFs reported zero net activity. This shift follows a robust **$1.4 billion accumulation period year-to-date, including $500 million this week alone—far exceeding typical weekly averages.
Key Market Drivers and ETF Performance
BlackRock’s ETHA Faces Momentum Shift
The BlackRock iShares Ethereum Trust (ETHA) remains the market leader, with $5.2 billion in net inflows** since launch and holdings of **1.65 million ETH** (valued at **$4.17 billion). However, Friday marked its first day of zero flows after 14 consecutive days of inflows. ETHA’s stock price dropped 7% amid geopolitical tensions tied to the Iran-Israel conflict, sliding below $20. This decline contrasts sharply with its 100% rally since mid-April, indicating potential stress on upward momentum.
Whale Activity and Market Liquidation
Despite ETH’s price dip to $2,500 (a 19% decline in open interest on Binance), whale accumulation surged:
- 166,199 ETH ($435 million) acquired via OTC deals over two weeks at an average price of **$2,618**.
- Notable transactions include a $283 million purchase** on June 4 and a **$14 million buy linked to ConsenSys on June 14.
The $2,500 support level** is now critical for bulls aiming to reignite a rally toward **$3,000.
FAQs: Ethereum ETFs and Market Trends
Q: Why did Ethereum ETFs see outflows after 19 days of inflows?
A: Profit-taking and geopolitical tensions likely triggered short-term cooling after a prolonged accumulation phase.
Q: How does BlackRock’s ETHA compare to other Ethereum ETFs?
A: ETHA dominates with $5.2 billion inflows, but its zero-flow day signals potential market caution.
Q: What’s the significance of whale activity during ETH’s price drop?
A: Large accumulations suggest institutional confidence in ETH’s long-term value despite volatility.
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Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always conduct independent research.