Ethereum ETFs recorded $75.21 million in outflows on December 5, with no inflows across all nine funds. This marks the fourth consecutive day of net withdrawals for ETH-focused ETFs.
Ethereum traded near $3,030, ranging from $2,995.50 to $3,146.10 over 24 hours. The token has declined 2.7% in the past day and 10.3% over the past 30 days.
BlackRock Drives Outflows
BlackRock’s ETHA fund accounted for the entire $75.21 million withdrawal. The fund remains the largest Ethereum ETF, with cumulative net inflows of $13.09 billion.
Other major Ethereum funds include Fidelity’s FETH, which has $2.62 billion in total inflows, and Grayscale’s ETHE, which shows $4.99 billion in net outflows since converting from a trust structure.
Despite the ongoing outflows, total net assets under management for Ethereum ETFs stand at $18.94 billion. Cumulative net inflows across all funds reached $12.88 billion.
ETH Supply Hits Record Low
Exchange balances of Ethereum dropped to 8.84% of total supply, a record low. This indicates tighter ETH supply compared to Bitcoin, which has 14.8% of its supply on exchanges.
Analysts note that Ethereum is increasingly moving into staking, Layer 2 activity, long-term custody, and other non-liquid channels. According to Milk Road on X, “ETH supply is tightening in the background while the market decides its next move. When that gap closes, price follows.”
Bitcoin ETFs See Contrasting Trend
In contrast, Bitcoin ETFs recorded $54.79 million in inflows on December 5. Total net assets for Bitcoin funds reached $117.11 billion, with cumulative inflows of $57.62 billion.
Bottom Line
Ethereum ETFs continue to see withdrawals amid weak short-term market sentiment, while supply dynamics tighten in the background. Investors are watching closely, as reduced liquidity on exchanges could influence ETH price movements in the coming weeks.
