Ethereum ETF Outflows Reach $465M as Institutions Buy 856k ETH
US spot Ethereum ETF outflows hit a record $465 million on Monday, ending a 20-day inflow streak after $152 million exited on Friday. The outflows coincided with Ethereum’s price dropping 12% over the weekend to $3,380 before recovering to $3,670. BlackRock’s ETHA led withdrawals with $375 million, followed by Fidelity’s FETH ($55.1 million) and Grayscale’s Mini and ETHE funds ($28 million and $6.9 million). Spot Bitcoin ETFs also saw $333 million leave the market. Despite these Ethereum ETF outflows, ETH has climbed 44% in the past 30 days, trading near $3,630, and Galaxy Digital CEO Mike Novogratz forecasts a revisit to $4,000 within six months.
On-chain data points to robust institutional demand amid ETF turbulence. Since July 9, 14 new wallets have accumulated 856,000 ETH (over $3.1 billion), while three whale wallets added 63,837 ETH (~$236 million) via OTC trades. Cumulative inflows into spot Ethereum ETFs since launch stand at $9.02 billion, driven by a 20-day July streak that attracted $5.4 billion. These mixed signals underscore short-term pressure from net outflows but reflect sustained long-term confidence in Ethereum’s fundamentals.
Neutral
Record spot Ethereum ETF outflows and a weekend price dip have created short-term bearish pressure on ETH. However, rapid price recovery, a 44% gain over 30 days and robust on-chain institutional accumulation of 856,000 ETH signal strong long-term support. The mix of heavy withdrawals and continued demand in both ETFs and OTC markets balances out, resulting in a neutral market outlook for Ethereum in the immediate term.