New Ethereum whales are in town, but the leading altcoin is seeing low ETF demand, which consequently pressures investor and market sentiment.
Ethereum ETH $4 491 24h volatility: 0.6% Market cap: $542.09 B Vol. 24h: $14.68 B rally from $2,500 to over $3,900 brought significant interest from large investors over the past month. The leading altcoin experienced strong inflows into US-based spot ETH exchange-traded funds and impressive over-the-counter deals from potentially long-term whales.
Since July 9, 14 new addresses have purchased 856,554 ETH, currently worth $3.2 billion, according to data from Lookonchain.
Whales/Institutions Keep Buying $ETH!
Another 3 fresh wallets bought 63,837 $ETH($236M) via FalconX and Galaxy Digital OTC today.
Since July 9, a total of 14 fresh wallets have accumulated 856,554 $ETH($3.16B).https://t.co/sOy4Pd7r1Zhttps://t.co/0cjdfOiJnw… pic.twitter.com/b8PImzawCw
— Lookonchain (@lookonchain) August 5, 2025
The market analytics firm says that three new wallets accumulated 63,837 ETH, currently worth $236 million, via FalconX, an institutional cryptocurrency brokerage, and Galaxy Digital’s OTC services.
Tom Lee’s crypto treasury firm, BitMine Immersion, also accumulated roughly $300 million in ETH within the first three days of August.
The latest batch of accumulation pushed ETH up by 3% to $3,650.
ETH ETFs and Market Sentiment
The crypto market is currently facing resistance. According to CoinMarketCap data, the total market value is currently at $3.74 trillion, gaining roughly $40 billion over the past day.
Moreover, market sentiment remains stuck in the neutral zone, fluctuating between 50 and 55. This movement suggests investor uncertainty, which should be natural considering the ETF outflows.
Spot ETH ETFs in the US saw a net outflow of $153.3 million and $465.1 million within the first two trading days in August. The majority of the outflows, worth $375 million, came from BlackRock’s ETHA fund, according to SoSoValue data.
In addition to the ETFs, CoinShares reported on Aug. 4 that crypto-related investment products finally ended their 14-week inflow streak with $223 million in outflows.
Ethereum and the broader crypto market are seeing selling pressure from short-term holders, which will likely put pressure on digital assets for a few weeks. So far, there’s no major negative catalyst that could push the market deeper into the bearish zone.
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