The biggest withdrawal was from BlackRock’s ETHA, which saw $374 million pulled in a single day. Other funds also saw outflows:
- Fidelity’s FETH: –$55.11 million
- Grayscale’s ETH: –$28 million
- Grayscale’s ETHE: –$6.98 million
On August 3, Ethereum ETF assets under management dropped by another $152 million.
Ethereum Spot ETF Inflow Dynamics. Source: SoSoValue
Ethereum Price and On-Chain Trends
Interestingly, despite these historic outflows, Ethereum’s price rose 2.3% over the same period, according to CoinGecko. On-chain activity has also been robust: July’s transaction volume jumped 11% over June, while the total on-chain transfer value surged by 71%, hitting $238 billion—the highest level since December 2021.
Top 3 crypto assets by market cap. Source: CoinGecko
Institutional Perspective and Outlook
Binance representatives told ForkLog that prior to this outflow event, ETH ETFs saw a record-breaking streak of net inflows, with Ethereum’s price rising more than 50% in June alone—its strongest monthly performance in three years.
Analysts maintain a constructive outlook for Ethereum, emphasizing:
- Growing institutional interest in ETH ETFs
- Positive signals from the SEC and reduced regulatory uncertainty in the U.S.
- Ethereum’s expanding role as the key infrastructure asset in DeFi
Bottom line: Despite the largest-ever outflows from ETH spot ETFs, Ethereum continues to demonstrate fundamental network strength and increasing institutional engagement.