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Ethereum spot exchange-traded funds (ETFs) posted net outflows on the last trading day of February ($43 million). BlackRock accounted for the entirety of the outflow, as the other eight funds sat out Friday.
ETH price holds steady below $2,000. Traders sense the bearish phase is losing strength. Market sentiment begins to shift toward optimism.
ETH ETFs Scoop $80M in Feb’s Last Week, Kindle Hope
BlackRock (NASDAQ: ETHA) reported $43 million in outflows on Friday, the sole ETH ETF to report non-zero flows. Weekly net inflows stood at $80.46 million, breaking a five-week net outflow streak.
ETH ETFs ended February with net outflows of $369.87 million, marking a bigger outflow than in January.
Total net assets held by the nine ETH ETFs stood at just $10.96 billion at Friday’s close. This comes amid Ethereum’s general drawdown from its ATH.
2025 was the second-worst year for ETH. It has been closing in red for the last six months, including February. At that time, it closed at over -22%.
ETHA offloaded $408 million in ETH in February; this is BlackRock’s 4th straight month of net outflows. Holding over $6 billion in ETH, BlackRock is the biggest US ETH Spot ETF by net assets. Its Feb sell-off was slightly bigger than its January sell-off.
However, weekly flows data for BlackRock’s ETH ETF shows that outflow momeuntum is fading. BlackRock offloaded ETH for the last six weeks, and this week was the smallest net outflow.
This aligns with the speculation that bearish pressure is easing in the crypto market. That the sell-off pressure is easing, is being ferquently highlighted on the Bitcoin price chart.
ETH Price Action: Key Levels and Noteworthy Signs
Ethereum price, along with Bitcoin price, surged on Wednesday. ETH closed Wednesday at $2,057, and is yet to test that mark. At press time, Ethereum was trading near $1,900, 1.7% below Thursday’s close. The Relative Strength Index (RSI) stood at 37.93 (oversold zone).
ETH ETFs’ negative flows are weakening and the bearish phase in the ETH chart seems to be retreating.
Notably, in an X post, Bitmine Marine (BMNR) highlighted that ETH price was aroud 22% below its realized price. Realized price is the average of the price of all Ethereums at the last price they moved.
The post noted the crypto trades about 90% below its bull market peak. It added that similar drawdowns occurred in past bull markets.
Additionally, Crypto Rover, another crypto market commentator, highlighted in an X post, the spike in balances in ETH accumulation addresses. The post called the spike as a rise in accumulation by ‘Smart Money’.
