Ethereum ETF Sees $152M Outflow Despite Active Addresses Hitting Yearly High

Key Insights:

• $152.3M withdrawn from Ethereum ETFs on August 1, largest single-day outflow in weeks
• Active ETH addresses surged to 841,100, highest in a year before the latest price pullback
• $257M in long positions face liquidation risk if price falls to $3,424

Ethereum recorded $152.3 million in ETF outflows on August 1, according to SoSoValue data. This marks the largest single-day outflow in recent weeks, following $5.43 billion in net inflows for July. BlackRock and other major issuers have not signaled selling pressure despite the sizable withdrawals.

On-chain activity remains robust, with daily active addresses hitting 841,100, the highest level in a year, based on Santiment data. This surge in network engagement occurred just before ETH’s drop below $3,500. Analysts see the divergence between ETF flows and on-chain usage as a sign of mixed market sentiment.

Price action has weakened in recent sessions, with ETH falling over 8% from last week’s peak near $3,930. Data from Coinglass shows $257 million in long positions could be liquidated if ETH dips to $3,424.

Institutional Activity and Market Outlook

Technical analysis from CryptoGoos indicates ETH may decline toward the $3,300 level before staging a potential rebound. If broader market pressures increase, analyst Michaël van de Poppe identifies the $3,000–$3,100 range as a prime long-term accumulation zone.

In parallel, blockchain analytics firm Lookonchain reports that SharpLink has purchased another 14,933 ETH worth $52.56 million in the past nine hours, bringing its total holdings to 464,209 ETH valued at $1.63 billion. This aggressive institutional accumulation stands in contrast to the recent ETF outflows, highlighting a divergence between short-term selling and long-term strategic positioning.

The broader crypto market has faced significant volatility, with $632.38 million in long positions and $85.54 million in shorts liquidated in the past 24 hours. 

Meanwhile, macroeconomic conditions are shifting, as the odds of a September Federal Reserve rate cut have surged to 75% following weaker labor market data, according to Kalshi. 

Adding to the policy landscape, the U.S. Securities and Exchange Commission announced nationwide crypto roundtables, with Commissioner Hester Peirce calling for direct public input on shaping future crypto regulation.