U.S. spot Ether exchange-traded funds (ETFs) saw nearly half a billion dollars in net outflows on Monday — their largest single-day outflow since launching — according to data from investment firm Farside Investors.
Farside reported that spot Ether ETFs experienced $465 million in net outflows on Monday, marking their second consecutive day of withdrawals after breaking a 20-day inflow streak on Friday, when they saw $152 million in outflows.
The sharp reversal indicates a possible shift in investor sentiment following a strong July, during which spot Ether ETFs attracted a record $5.43 billion in net inflows.
The outflows coincided with a drop in Ether’s price to $3,380 on Sunday — a 12% decline from $3,858 on Thursday. By Tuesday, however, ETH had rebounded to $3,629, according to CoinGecko.
BlackRock Suffers Most as ETF Momentum Slows
According to data from SoSoValue, BlackRock’s iShares Ethereum Trust (ETHA) experienced the largest outflows on Monday, with nearly $375 million leaving the fund. Despite the dip, ETHA still holds a strong cumulative net inflow of $9.3 billion and total net assets of $10.7 billion.
The Fidelity Ethereum Fund (FETH) saw the second-largest outflow, losing $55.11 million. To date, FETH has accumulated $2.2 billion in net inflows and holds $2.4 billion in assets under management.
Grayscale’s Ethereum funds also posted outflows on Monday. The Grayscale Ethereum Mini Trust (ETH) recorded a $28 million net outflow, while the Grayscale Ethereum Trust (ETHE) saw $6.9 million leave the fund.
Grayscale’s ETHE has seen a cumulative net outflow of $4.3 billion and currently holds $4.1 billion in assets. Meanwhile, the Mini Trust (ETH) maintains a cumulative inflow of $1.1 billion with net assets totaling $2.3 billion.
Whales and Institutions continue buying ETH
Despite significant outflows from Ether ETFs, on-chain data indicates that institutional demand for ETH remains robust.
On Tuesday, blockchain analytics firm Lookonchain reported that three wallets—likely belonging to whales or institutions—acquired a total of 63,837 ETH (around $236 million) through over-the-counter transactions with FalconX and Galaxy Digital.
Since July 9, Lookonchain has identified 14 newly created wallets that have collectively accumulated 856,554 ETH, valued at more than $3.1 billion.
