ETH Drops 2.4% as U.S. Spot ETF Outflows Hit $465M, Yet Institutional Holdings Remain Strong

Ethereum (ETHUSDT) experienced a 2.40% price decline over the past 24 hours, with the current price at $3,574.83 on Binance, down from a 24-hour open of $3,662.57. This drop is primarily attributed to a record net outflow of $465.77 million from U.S. spot Ethereum ETFs, which has contributed to increased market volatility and significant liquidations, including a $2.3 million long position. Despite these outflows, institutional interest remains notable, with BlackRock holding $11 billion in Ethereum and growing demand from treasury companies. Trading volume over the last 24 hours reached approximately $27.07 billion, and Ethereum maintains its position as the second-largest cryptocurrency by market capitalization at around $433.12 billion.