BlackRock’s spot Ethereum ETF (ETHA) has just experienced one of its most volatile weeks since launch, with large-scale redemptions early on giving way to a strong rebound that helped push Ethereum to fresh all-time highs.
Between August 18 and 20, BlackRock offloaded roughly 84,000 ETH — valued at $351.3 million — according to Coinglass data. The steepest drop came on August 20, when investors pulled $257.8 million from the fund, marking its heaviest single-day redemption. That followed $87.2 million in outflows on August 18 and another $6.3 million on August 19.
Across all issuers, spot Ethereum ETFs recorded $233.7 million in net outflows for the week, with BlackRock accounting for more than 85% of the selling pressure.
Momentum Reverses With Strong Inflows
By midweek, sentiment flipped. On August 21, BlackRock’s ETF attracted $233.6 million in new capital, followed by another $109.4 million on August 22. The reversal underscored the back-and-forth nature of institutional flows and the growing role ETFs play in Ethereum’s price action.
Ethereum Outpaces Bitcoin
The renewed buying interest helped Ethereum surge to $4,713, an 8.5% jump in the past 24 hours and nearly 6% higher for the week. The rally added to a two-month run that has seen ETH more than double in price, outpacing Bitcoin’s gains as ETF-driven demand intensifies.
The upswing also coincided with dovish comments from Federal Reserve Chair Jerome Powell, who suggested an interest rate cut may be on the table — sparking a broader rally across crypto markets.
Technical Picture Remains Bullish
Ethereum’s technical indicators remain firmly in bullish territory. The asset trades comfortably above its 50-day simple moving average at $3,674 and its 200-day SMA at $2,679. The alignment of these moving averages suggests sustained upward momentum.
Meanwhile, the 14-day relative strength index (RSI) sits at 66.66, just below the overbought threshold of 70. Analysts say the reading signals strong buying pressure but also hints at the possibility of short-term pullbacks if momentum overheats.
With institutions pouring billions into Ethereum ETFs and inflows now back on the rise, many traders believe ETH could continue testing uncharted price levels in the weeks ahead.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/blackrocks-ethereum-etf-swings-from-heavy-outflows-to-major-inflows-as-eth-hits-new-highs/