Ethereum ETFs See $678M Outflows in 3 Days as Price Drops Below Key Support

For the third day in a row, Ethereum exchange-traded funds (ETFs) have seen redemptions, with $422m withdrawn on August 19 alone...

Written by: Arslan Butt • Wednesday, August 20, 2025 • 1 min read

• Last updated: Wednesday, August 20, 2025

Quick overview

Ethereum ETFs have experienced significant redemptions, with $422 million withdrawn on August 19, marking the second-largest daily outflow since their launch.
Fidelity, Grayscale, and Bitwise led the redemptions, collectively withdrawing $318 million, while smaller issuers also reported minor outflows.
Ethereum's price has dropped to $4,180, down 10% for the week, with critical support at $4,135, raising concerns about further declines if this level is breached.
Despite recent selling, Ethereum ETFs still hold over 6.3 million ETH, valued at $26 billion, indicating their substantial influence on the market.

For the third day in a row, Ethereum exchange-traded funds (ETFs) have seen redemptions, with $422m withdrawn on August 19 alone. According to SoSoValue, this is the second-largest daily outflow since these products launched.

Fidelity led the way with $156m, followed by Grayscale at $122m, while Bitwise saw $40m in redemptions. Smaller outflows between $3m and $6m were reported from issuers like BlackRock, Franklin Templeton and Invesco. Over three days, Ethereum ETFs have shed $678m, prompting issuers to trim their holdings.

On-chain analysis from Arkham Intelligence shows BlackRock, Fidelity and Grayscale sold nearly $160m of ETH, reversing weeks of accumulation.

ETH Price Slumps Into Testing Zone

Ethereum’s price weakness has caused the outflows. At the time of writing, ETH is trading at $4,180, down 1.5% in the last 24 hours and 10% for the week.

ETH has dropped to just above its 20-day Exponential Moving Average (EMA) at $4,135 – now support after falling from $4,750 earlier this month.

ETH RSI is 54, buying momentum is slowing.
Longer-term EMAs (50, 100, 200) are up, underlying strength.
Below $4,135 could shift focus to the 50-day EMA at $3,690, deeper correction risks.
Holding above current support could set up ETH for another rally to $4,500-$4,700.

ETFs Still Hold Significant Position

Despite the selling, Ethereum ETFs still control a big chunk of the market. Combined, issuers hold over 6.3m ETH, worth $26bn, 5% of total supply.

This is a big position and ETFs have a lot of influence over Ethereum’s price. If ETH doesn’t hold above support, more redemptions could trigger more selling and extend the decline.

For now, the market waits to see if ETF investors will come back once confidence in ETH’s price direction improves.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.