Ethereum-focused exchange-traded funds (ETFs) have hit a bump, shifting from strong inflows to back-to-back losses as ETH prices cool off.
Big Outflows After Record Gains
According to data from SoSoValue, Ethereum ETFs saw outflows of $196.6 million on August 18, marking their second straight day of redemptions. Just a few days earlier, they also lost about $59 million.
- BlackRock led the withdrawals with $87 million.
- Fidelity followed closely with $78.4 million.
- Grayscale saw $18 million in outflows.
- VanEck, Franklin Templeton, and Bitwise recorded smaller withdrawals of under $10 million each.
This downturn ends what had been a remarkable run — an eight-day streak of inflows last week, highlighted by a record $1 billion single-day inflow. That momentum helped push ETH to multi-month highs above $4,700.
ETH Price Cools Off
Ethereum’s rally was short-lived. At the time of writing, ETH trades at $4,226, down 0.92% in the past 24 hours and 1.5% on the week. Despite this dip, monthly gains remain strong at around 14%.
The recent ETF outflows appear to be driven by profit-taking, as investors look to lock in gains after ETH’s recent surge. Bitcoin ETFs are also showing weakness, losing about $136 million over the past two days.
ETFs Keep Accumulating ETH
Despite short-term selling pressure, Ethereum ETFs continue to strengthen their long-term position. Together, they now hold roughly 6.5 million ETH — worth around $27.7 billion at current prices. That represents about 5.34% of Ethereum’s total supply, a sharp increase from just $10 billion in holdings two months ago.
BlackRock has been the most aggressive accumulator, boosting its ETH stash to 3.38 million ETH, valued at nearly $14.3 billion. That’s up 190% from the start of the year, when it held just 1.1 million ETH. ETH has now become the second-largest asset in BlackRock’s portfolio.
Growing Corporate Demand
ETFs aren’t the only ones buying. Corporate entities are estimated to hold 2.2% of ETH’s supply, worth more than $10.2 billion. These combined institutional flows are painting a bullish long-term picture for Ethereum.
Outlook: $7,500 on the Horizon?
Analysts remain optimistic. Standard Chartered recently lifted its year-end ETH price target to $7,500, pointing to spot ETF adoption and growing corporate accumulation as key drivers for the next big move.
