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- Ethereum ETFs record $795M in weekly outflows.
- Whales accumulate 570,000 ETH amid sell-offs.
- Analysts predict a potential Q4 ETH rally.
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Ethereum ETFs face a rough week, reflecting broader market turbulence as ETH price swings challenge investors. Spot Ethereum exchange-traded funds (ETFs) recorded $248 million in outflows on Friday alone, extending a week-long trend that has totaled $795 million in withdrawals. The persistent outflows highlight heightened volatility and investor caution in the wake of sharp price movements.
ETH Price Dips Amid Derivatives Market Reset
Ethereum’s price dropped sharply earlier in the week, sliding from $4,500 on September 21 to a low of $3,850 by September 25. This steep decline coincided with one of the largest derivatives market resets since 2024, according to CryptoQuant. Open interest fell dramatically across exchanges, triggering hundreds of millions in long-position liquidations. Despite the sell-off, ETH is currently trading just above the $4,000 mark, showing signs of resilience.
Whales Accumulate While Prices Fall
Large investors, or “whales,” have been quietly accumulating ETH during the downturn. LookOnChain reported that 16 wallets received a combined 431,018 ETH, worth about $1.73 billion, over the past two days. Overall, nearly 570,000 ETH has been added to whale holdings in the past week. Analysts explain the paradox of “buying but falling” as a function of derivatives market mechanics: forced liquidations from overly leveraged positions often create temporary sell pressure that outpaces buying demand.
Whales keep accumulating $ETH!
— Lookonchain (@lookonchain) September 27, 2025
16 wallets have received 431,018 $ETH($1.73B) from #Kraken, #GalaxyDigital, #BitGo, #FalconX and #OKX in the past 3 days.https://t.co/0DPxgZMGN7 https://t.co/xtPLBKo9LZ pic.twitter.com/oEXZKIErmr
Cautious Optimism Amid Potential Whale Sell-offs
Despite heavy accumulation, market caution persists. One notable Ethereum whale recently transferred 1,000 ETH (~$4 million) to an exchange, potentially securing $2.42 million in profits if sold. The remaining 5,000 ETH in the wallet still holds over $12 million in unrealized gains. Analysts warn that such actions could temporarily stall recovery, even as many, including Tom Lee of BitMine, predict a strong ETH rally in Q4.
Ethereum’s market remains in flux, with ETFs experiencing significant withdrawals, derivatives-driven volatility, and whale activity shaping near-term trends. While accumulation by large investors suggests confidence, caution is warranted as forced liquidations and potential sell-offs continue to influence price action.
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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.
Also Read: Solana Surpasses Ethereum in Tokenized Stock Volumes with $807M Market Share
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