Spot Ether ETFs started the week with heavy selling pressure, posting $196.7 million in outflows on Monday — the second-largest daily outflow since their launch.
This extends a downtrend that began last week, which included $59 million in outflows on Friday, bringing the two-day total to $256 million, reports Cointelegraph.
While significant, these withdrawals still pale in comparison to the $3.7 billion of inflows accumulated over the prior eight trading days. Analysts suggest that investor profit-taking and short-term volatility are driving this correction, especially as Ether dipped around 6.5% during the same period.
BlackRock and Fidelity lead ETF withdrawals
Among issuers, BlackRock’s iShares Ethereum Trust ETF (ETHA) and Fidelity’s Ethereum Fund (FETH) recorded the highest outflows on Monday, with $87 million and $79 million respectively. Just days earlier, on Friday, FETH posted a $272 million outflow — a single-day record for the fund. BlackRock’s ETHA, which held 3.6 million ETH worth $15.8 billion at the end of last week, saw its dollar value shrink to $15.6 billion by Monday.
These outflows signal a shift in short-term sentiment, although longer-term institutional holdings remain substantial. The broader crypto market correction has likely contributed to these asset movements.
ETH unstaking surges as ETF inflows slow
At the same time, Ethereum’s proof-of-stake network is facing mounting pressure from validator exits. According to ValidatorQueue data, the ETH unstaking queue hit a new record of 910,000 ETH — worth around $3.9 billion — with wait times extending beyond 15 days. This rising queue indicates increased withdrawal activity by validators, potentially adding more supply to the market. Some observers, including Bitcoin advocate Samson Mow, have called this trend an “unstakening,” warning it could further weigh on ETH’s price relative to BTC.
Despite these concerns, spot Ether ETFs have been gaining ground on their Bitcoin counterparts. Data shows Ether ETFs now hold roughly 5% of ETH supply, closing in on Bitcoin ETFs’ 6.4% share — a sign of rising institutional interest even amid current market turbulence.
Recently we wrote that Ethereum (ETH) sits near $4,270.50, up approximately 0.75% intraday, fluctuating between $4,205.73 and $4,385.73.
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