Ethereum Spot ETFs See $429 Million Outflow Amid Market Uncertainty

Key Developments in Ethereum and Bitcoin ETFs

Ethereum spot ETFs experienced outflows totaling $429 million, marking their third consecutive day of withdrawals.
Bitcoin spot ETFs saw outflows of $327 million, though BlackRock’s IBIT fund recorded inflows.

ETH price fell by 5% in the past 24 hours, currently trading near $3,900, down almost 15% over the week.

Ethereum Network Activity and Bhutan Integration

The Ethereum network shows strong on-chain activity, with significant growth in stablecoin transactions. Unique stablecoin senders increased rapidly, exceeding one million per week recently.
Bhutan has integrated its National Digital Identity system onto the Ethereum blockchain, migrating from Polygon. This makes Bhutan the first nation to use a public blockchain for a national ID system.
This integration allows about 800,000 Bhutanese citizens to use verifiable credentials linked to Ethereum’s validator network.

The developments highlight Ethereum's role in advancing decentralized infrastructure for secure data systems.