Ethereum-linked exchange-traded funds recorded their second consecutive day of significant outflows, with withdrawals on August 18 amounting to approximately $196.6 million, according to SoSoValue data. This followed a previous day that saw losses of $59 million, indicating a clear profit-taking wave following a strong rise in Ethereum last week.
The most affected
BlackRock topped the list with losses of $87 million.
Fidelity came in second with $78.4 million.
Grayscale recorded lower outflows of $18 million.
While withdrawals from VanEck, Franklin Templeton, and Bitwise were less than $10 million each.
From a historic rise to a wave of decline
This decline came after a series of internal inflows that lasted for eight consecutive days, pushing Ethereum above the $4700 level for the first time in months, before currently retreating to around $4300. During that wave, the funds achieved their best weekly performance since their inception, including a record daily inflow exceeding $1 billion.
Continuous accumulation despite declines
Despite these short-term pressures, the funds continue to bolster their holdings; they currently hold about 6.5 million Ethereum valued at $27.7 billion, representing more than 5.3% of the total supply.
Advanced position for BlackRock
Arkham Intelligence data showed that BlackRock raised its holdings to 3.38 million Ethereum valued at nearly $14.3 billion, making Ethereum the second largest asset in its portfolio, with an increase of nearly 190% since the beginning of the year.
Growing institutional support
Data also reveals that companies now hold 2.2% of the total supply worth more than $10.2 billion, which strengthens long-term expectations for Ethereum, especially with the continued institutional flow and the expanding role of investment funds in the market.
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