BlackRock Ethereum ETF Reports First Outflow of $19 Million Amid ETH Price Drop
BlackRock's Ethereum ETF (ETHA) experienced its first outflow of over $19 million after 30 consecutive days of inflows. The fund sold 8,140 ETH, reducing total holdings to 1.677 million ETH.
- Institutional sentiment may be shifting as the ETH price fell by 4.2% to below $2,500 amid geopolitical tensions in the Middle East.
- ETHA share price dropped 3.3%, currently at $18.27.
- Assets under management for ETHA exceed $4.04 billion; net inflows since inception surpassed $5 billion.
- Grayscale ETH saw over $6.6 million in inflows, reducing overall net outflows across US ETF issuers to $11.6 million.
- Staked ETH reached an all-time high of over 35 million ETH, representing more than 28.3% of total supply.
Analysts note a significant support zone for ETH between $2,368 and $2,445, where 2.37 million addresses hold over 65 million ETH. As liquid supply decreases, more companies are adding cryptocurrencies to their treasury strategies.