Ethereum ETFs have shifted from gains to losses as the price of Ethereum (ETH) pulls back. Investors are taking profits, and the market is adjusting after a strong rally earlier this month.
ETF Outflows and Market Activity
Data from SoSoValue shows that Ethereum ETFs saw $196.6 million in outflows, marking the second consecutive day of losses. Leading the withdrawals was BlackRock at $87 million, followed by Fidelity with $78.4 million. Grayscale recorded $18 million, while VanEck, Franklin Templeton, and Bitwise had smaller outflows under $10 million each.
These outflows ended an eight-day streak of inflows that had coincided with Ethereum’s climb above $4,700, fueled by renewed institutional interest. Last week was one of the best since these ETFs debuted, including a record single-day inflow exceeding $1 billion.
ETH’s recent pullback has led to profit-taking, while Bitcoin ETFs have also experienced a two-day outflow trend, shedding around $136 million.
Ethereum ETF Holdings Remain Strong
Despite short-term losses, Ethereum ETFs continue to accumulate ETH. Current data shows these funds manage around 6.5 million ETH, valued at roughly $27.7 billion. This represents 5.34% of Ethereum’s total supply, up significantly from $10 billion just two months ago.
BlackRock, for instance, has quietly accumulated 3.38 million ETH, valued just under $14.3 billion. This makes ETH the second-largest asset in its portfolio, a 190% increase from the 1.1 million ETH held at the start of the year. Corporate entities also now hold about 2.2% of Ethereum’s supply, worth over $10.2 billion. Together, these flows support Ethereum’s long-term growth potential.
Outlook for Ethereum ETFs and ETH
The optimism around Ethereum ETFs remains strong. Analysts and financial institutions see continued accumulation and potential price gains ahead. Standard Chartered recently updated its year-end target for ETH to $7,500, citing growing ETF adoption and corporate investment as key factors driving the next rally.
