Ethereum ETFs show outflow for first time in 19 days
Ethereum ETF inflows break 19-day streak with $2.1 million in outflows
Ethereum’s string of institutional inflows came to an end on Friday, marking the first net outflows for spot Ether ETFs in 19 days.
According to data from Farside Investors, the total outflow stood at $2.1 million, led by Fidelity’s FETH, which recorded an $8.8 million withdrawal, reports CoinGape.
Only the mini Grayscale Ether ETF registered inflows, collecting $6.7 million, while all other U.S.-based Ethereum ETFs posted zero net flows. The retreat signals a short-term cooling following a $1.4 billion accumulation streak since the start of the year, including $500 million this week alone — nearly five times the weekly average.
BlackRock ETF Momentum Stalls as ETH Drops
Despite the broader setback, the BlackRock iShares Ethereum Trust (ETHA) continues to dominate the field. It has amassed $5.2 billion in net inflows since launch, holding over 1.65 million ETH valued at $4.17 billion. However, Friday marked the first day of zero flows for ETHA after 14 straight days of inflows, reflecting broader market anxiety. Amid geopolitical tensions tied to the Iran-Israel conflict, ETHA’s stock dropped 7%, slipping below $20. That marked a stark contrast to the 100% rally since mid-April, suggesting momentum is now under stress.
Whales Accumulate as Open Interest Collapses
In parallel, whale accumulation of ETH surged despite price weakness. According to Arkham Intelligence, whales acquired 166,199 ETH worth $435 million via OTC deals over two weeks, at an average of $2,618 per ETH. Notable buys include a $283 million purchase on June 4 and a $14 million buy on June 14, the latter linked to ConsenSys. Meanwhile, ETH open interest dropped 19% on Binance as the price fell from $2,800 to below $2,500, triggering liquidations. Ethereum is now testing $2,500 support, a key level bulls must defend to resume the rally toward $3,000.
Recently we wrote that Ethereum (ETH) plunged more than 8%, rattled by a sharp uptick in geopolitical tensions following an Israeli airstrike on Iran.
