$11.9 Million Outflow from Ethereum ETFs, Major Investors Continue Buying

Spot Ethereum exchange-traded funds (ETFs) traded in the U.S. recorded a total net outflow of $11.9 million on August 3rd. The highest outflow occurred in BlackRock's ETHA product, amounting to $9 million. Grayscale's ETHE fund saw a net outflow of $7.8 million, while Fidelity's FETH product experienced a net outflow of $900,000. In contrast, Bitwise's ETHB fund had a net inflow of $5.8 million. Major investors continue to accumulate Ethereum. According to Lookonchain data, a whale with the address 0x2e80 withdrew approximately $35.44 million worth of 19,000 ETH from the Gemini exchange and directed all of it to staking. This whale has withdrawn a total of 112,000 ETH over the past three weeks. Institutional investor BitMine Immersion Technologies purchased an additional 10,399 ETH last week, bringing its total holdings to 5,797,813 ETH, valued at $10.9 billion. This amount corresponds to approximately 4.8% of the circulating Ethereum supply. The spot trading volume in the cryptocurrency market has dropped to around $15 billion, reaching its lowest level of the year. The share of decentralized exchanges in spot trading reached a record high of 24% in July.

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