Big Investors Offload Shares, Ethereum ETF Funds Experience Drastic Decline

Jakarta, Pintu News – Ethereum (ETH) faces mounting selling pressure due to large investors’ large sell-off and the withdrawal of funds from spot-based Ethereum ETFs. Recent data shows a significant outflow of funds, which adds to the uncertainty in the market.

Check out the full news below!

ETF Fund Withdrawals and the Impact on Ethereum Price

On February 26, spot-based Ethereum ETFs in the United States recorded net outflows of $94.3 million. BlackRock led these outflows with $69.7 million, followed by Fidelity with $18.3 million and Grayscale with $3 million.

The net outflow in the past week has reached $222 million. Ethereum (ETH) has decreased prices by 5% in the last 24 hours, with the current trading price at $2,340.

According to data from CoinGlass, liquidations in 24 hours have totaled $127.93 million. Weaker DeFi activity and decreased liquidity is also evident from the total value locked in Ethereum, which dropped to $51.5 billion, the lowest level since November 2024.

Also read: SHELL Token Rises 35%, Sets Record High After Announced by Binance!

Whale Activity and Its Impact on the Market

Blockchain analytics firm Lookonchain identified two large transactions on February 27, which included the sale of $19.63 million of 8,074 Ethereum (ETH) and the deposit of $23.44 million of 10,000 Ethereum (ETH) to Binance. This suggests that large holders may be exiting their positions.

This sell-off coincided with increased market turmoil after former US President Donald Trump reiterated his plans to impose a 25% tariff on imports from the European Union, which caused volatility in the cryptocurrency market. Additionally, the recent hack at Bybit, which amounted to $1.4 billion, has added to the negative sentiment.

Despite the huge losses, some analysts expected that Bybit’s massive acquisition of Ethereum (ETH) to cover the losses would boost the price of Ethereum. However, selling pressure continues to overcome bullish expectations.

Also read: Can Ripple (XRP) Outperform Pi Network and New Altcoins? Here Are XRP’s Key Levels!

Upcoming Developments that Could Support Ethereum

Although the current outlook appears bearish, Ethereum (ETH) may find support from two significant developments. If the Securities and Exchange Commission (SEC) approves staking for Ethereum ETFs, this could strengthen Ethereum’s position as a long-term investment asset.

Additionally, the highly anticipated Pectra upgrade is scheduled to launch on April 8. The expected network scalability and efficiency improvements may attract new developers and investors, acting as a catalyst for further growth.

Conclusion

The Ethereum (ETH) market is currently at a crossroads, with various challenges and opportunities. Investors and market watchers should pay attention to key indicators and upcoming developments to make informed investment decisions.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Spot Ethereum ETFs Net Outflows, Whales Dump ETH. Accessed on February 28, 2025
• Featured Image: Coinstats