Ethereum ETFs Experience $366 Million Loss in Just Two Days as Whales Capitalize on the Dip

Ethereum ETFs bled hundreds of millions in two days while whale wallets moved in the opposite direction, and the two camps could not have read the same market data more differently.

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In a span of just 48 hours, Ethereum (CRYPTO:ETH) has shown two contrasting trends. Ethereum Exchange Traded Funds have fallen sharply, while major whale wallets have been buying during the dip.

This divergence reflects differing views on Ethereum’s outlook, and the price has already shown which side was right.

BlackRock Led Two Days of Ethereum ETF Selling

On September 15, US spot Ethereum ETFs recorded an outflow of $141.47 million, followed by another $224.11 million on September 16, the largest single-day outflow of the month. BlackRock (NYSE:BLK | BLK Price Prediction) drove nearly half of the second day’s losses, contributing $110.03 million.

The reversal ended four consecutive weeks of inflows, and the fund’s net assets plunged from $16.42 billion on September 14 to $15.16 billion by the close on September 16. That $1.26 billion drop came against only $366 million in withdrawals, so roughly $894 million was the price of Ethereum falling rather than investors leaving.