Ethereum Sees $79M ETF Exit as Big Investors Increase Their Holdings

TLDR

Table of Contents

Ethereum ETFs saw $79M in outflows, reducing liquid supply from exchanges.
BitMine acquired 96,798 ETH, signaling strong institutional accumulation.
BlackRock purchased $26.7M worth of ETH, adding to bullish pressure.
Ethereum broke $2.9K support with bearish signals pointing to $2,250 next.

Ethereum saw sharp ETF outflows totaling $79 million, yet large institutions increased their ETH holdings at the same time. This move shifted market sentiment. Despite price weakness, the activity suggested accumulation from major players ahead of Ethereum’s Fusaka upgrade.

Institutional Activity Grows Amid ETF Outflows

Ethereum ETF products registered $79 million in outflows over a short span. This change did not increase sell pressure but instead removed supply from exchanges. Such ETF exits reduced available liquidity and signaled a shift in investor behavior.

At the same time, large institutional buyers stepped in. BitMine, led by Tom Lee, acquired 96,798 ETH. BlackRock also increased its Ethereum exposure with a $26.7 million purchase. These movements suggest growing confidence among institutions as prices approached key support levels.

Ethereum Faces Technical Breakdown Near $2,900

Ethereum dropped below the $2,900 support level, which had acted as a strong price floor for months. On-chain analysis from CryptoQuant contributor CryptoOnchain confirmed the move. The Renko chart now suggests further weakness, with $2,250 acting as the next key support area.

Open interest in Ethereum futures has declined by 4%, which often indicates traders are closing positions. This was supported by CoinGlass data showing a 19% rise in ETH derivatives volume. When volume increases while open interest drops, it often points to reduced market conviction.

Whales Increase Exchange Activity as Volatility Rises

Binance data shows a sharp increase in the Bitcoin Exchange Whale Ratio. This means that large holders are now dominating exchange inflows. This often leads to increased selling or hedging behavior from whales.

As Bitcoin often sets the broader crypto market direction, its whale-driven volatility has a knock-on effect on Ethereum. ETH dropped to $2,803, losing nearly 5% over the past week and about 28% over the last 30 days. The asset remains 43% below its all-time high.

Upcoming Fusaka Upgrade May Influence Market Sentiment

Ethereum is preparing for the Fusaka upgrade on December 3, 2025. This upgrade is designed to reduce network load and improve execution flow. Market observers believe this could drive increased usage and improve transaction efficiency.

Institutional purchases ahead of the upgrade suggest expectations of long-term growth. The current structure shows that while the price has declined, trading volume rose 46% in 24 hours, reaching $30 billion. Increased activity signals ongoing interest despite recent corrections.