Ether Under Pressure as ETF Outflows Offset Corporate Buying

Buying Power Meets Outflow Pressure

Cointelegraph reported that ether purchases by Bitmine were effectively cancelled out by roughly $345 million in outflows from spot ETH ETFs. The symmetry is striking: even substantial corporate buying struggled to move the needle when measured against the volume of capital exiting regulated fund products.

The episode illustrates a broader pattern in the current market. While direct accumulation by companies signals long-term conviction, ETF flows reflect the shorter-term sentiment of a wider pool of institutional and retail investors. When those flows turn negative, they can quickly erode the support that corporate demand might otherwise provide.

Fundamentals Tell a Different Story

Beneath the price action, Cointelegraph noted that Ethereum's underlying metrics remain comparatively healthy. Growth in tokenization and in the total value locked (TVL) tied to real-world assets (RWA) continues to underscore the network's role as a settlement layer for an expanding range of financial applications.

The tokenization of real-world assets — from bonds to funds — has been a focal point for European financial institutions exploring blockchain infrastructure, and continued TVL expansion suggests that institutional interest in building on Ethereum has not faded, even as the token's market price struggles.

However, the analysis also pointed to a less encouraging signal: activity across decentralized applications (DApps) has remained stagnant. Without renewed growth in on-chain usage and demand for blockspace, the case for higher ETH valuations weakens, regardless of progress in the tokenization sector.

What to Watch Next

The central question raised by Cointelegraph is whether the combination of ETF outflows and flat DApp activity could push ETH toward the sub-$1,500 range. Such a move would represent a significant test of investor confidence and could influence how European asset managers position their crypto exposure heading into the coming quarters.

For now, the market appears caught between two competing narratives — one driven by improving infrastructure fundamentals and the other by fragile capital flows. Until ETF demand stabilizes and DApp usage shows clearer signs of recovery, the pressure on ether's price looks likely to persist.

As always, the interplay between regulated fund products and the underlying asset will remain a key indicator for market participants tracking Ethereum's direction.

Nearly 1,700 British investors are seeking at least £150 million from the crypto exchange Binance and its founder Changpeng Zhao in a new group action.