Ethereum ETF Inflows Hit $4.2B, But Whale Activity Keeps Price Below $2,500

Sean Williams
Ethereum (ETH)

Key Takeaways:

  • A major ETH whale has deposited 68,000 ETH to CEXs, likely driving down price despite ETF inflows.
  • Ethereum ETFs continue to attract institutional capital, with $4.2B in net inflows and 7 straight weeks of positive momentum.
  • Reawakened ICO-era wallets and corporate OTC buys signal opposing market forces—short-term caution vs. long-term accumulation.

Ethereum (ETH) has been grappling with downward price pressure despite a wave of strong inflows into spot Ethereum ETFs. As of July 1, ETH is trading around $2,456, down nearly 15% from its mid-June highs. The selling pressure appears linked to large-scale ETH transfers from whale wallets to centralized exchanges (CEXs), and renewed activity from early ICO-era wallets.

Whale Redeems Over 95,000 ETH at a Loss

According to blockchain analytics platform EmberCN, one Ethereum whale has redeemed 95,313 ETH over the past three weeks. Notably, 68,000 ETH (worth ~$165 million) has already been moved to CEXs, suggesting a sell-off is either underway or imminent.

The whale initially staked ETH at an average price of $2,878 but is now offloading tokens at $2,431, incurring an unrealized loss of approximately $42.6 million. Analysts suggest this could indicate capitulation or a strategic repositioning in anticipation of further volatility.

Ethereum ETFs Maintain Bullish Momentum

Contrary to the whale-driven bearish pressure, Ethereum’s institutional landscape is thriving. Spot Ethereum ETFs have recorded over $4.2 billion in net inflows, indicating strong investor confidence in ETH’s long-term value.

On June 30, ETF inflows totaled $31.6 million, with Fidelity’s FETH leading the pack at $25.7 million. For the seventh consecutive week, spot ETH ETFs saw net inflows, adding 106,000 ETH to institutional portfolios. BlackRock’s ETHA has notably dominated recent ETF demand.

ICO-Era Wallet Activity Stirs Market Jitters

Further weighing on sentiment is the reactivation of a long-dormant ICO-era wallet, which has not been active since Ethereum’s 2015 Genesis launch. The wallet holds over 1,000 ETH, originally acquired for just $310. Its current value is over $2.44 million, a staggering 7,870x return.

The move has heightened concerns of early investors cashing out, potentially adding to the broader sell pressure and rattling short-term market confidence.

Also Read: Ethereum Whale Moves After Decade of Silence — $310 Turns Into $2.5 Million

Amid the sell-off and market anxiety, corporate interest in ETH remains robust. Blockchain analytics from Arkham Intelligence show that SharpLink Gaming recently acquired 4,951 ETH via OTC purchases, totaling roughly $12.4 million.

Meanwhile, prominent analyst Tom Lee, now chairman of BitMine Immersion Technologies, expressed interest in creating a “MicroStrategy for Ethereum”—hinting at future large-scale ETH treasury strategies. Such moves could help counteract retail and whale-driven bearishness and fuel a rebound toward the $3,000 price mark.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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