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Ethereum-focused exchange-traded funds have shifted from gains to losses as the price of ETH pulls back.<\/p>\n
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On Aug. 18, Ethereum ETFs recorded outflows reaching $196.6 million, according to data<\/a> from SoSoValue. This marked the second consecutive day of losses for the funds, following the $59 million recorded just days ago.<\/p>\n Leading the outflows was BlackRock, accounting for the largest share at $87 million, followed by Fidelity at $78.4 million. Grayscale\u2019s withdrawals were smaller at $18 million, while VanEck, Franklin Templeton, and Bitwise each recorded more modest outflows under $10 million.<\/p>\n The latest dip ends last week\u2019s eight-day streak of inflows, which coincided with Ethereum\u2019s climb to multi-month highs above $4,700 and renewed institutional interest. That week was one of the funds\u2019 best since their debut, including a record single-day inflow of over $1 billion.<\/p>\n ETH\u2019s rally, however, was short-lived, as the asset quickly surrendered its gains, cooling the demand. At the time of writing, Ethereum trades at $4,226, down 0.92% over the past 24 hours. Its weekly performance has also turned negative, sliding 1.5%, though monthly gains remain strong at 14%.<\/p>\n <\/p>\n The ongoing ETF outflows are likely driven by profit-taking efforts among investors, likely to capitalize on the gains realized following the recent price performance. Meanwhile, Bitcoin ETFs are on a similar two-day losing trend, shedding roughly $136 million.<\/p>\n But even with recent underperformance, Ethereum ETFs are not slowing down on ETH accumulation.<\/p>\n Current market data shows that these exchange-traded funds now hold around 6.5 million ETH in assets under management, worth roughly $27.7 billion at current prices.\u00a0This represents 5.34% of Ethereum\u2019s current supply and marks a significant jump from their $10 billion level just two months ago.<\/p>\n Issuers like BlackRock have been on a quiet accumulation streak for months, building up their stacks as overall demand improves. Arkham Intelligence data shows<\/a> BlackRock\u2019s ETH holdings at 3.38 million at press time, valued slightly under $14.3 billion. This places ETH as the second-largest asset in its portfolio and reflects a 190% jump from its holdings at the start of the year, which were around 1.1 million ETH.<\/p>\nEthereum ETFs now hold 5% of ETH supply\u00a0<\/h2>\n