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crypto.news 2025-03-09 12:12:46

Red alert for Ethereum as spot ETFs shed $455m in recent weeks

Ethereum sits at a crucial support level as demand for spot exchange-traded funds wanes on Wall Street. Ethereum ( ETH ), the second-biggest crypto, has stagnated at $2,100 in the past few days. This price is about 47% below the highest level in December and 45% lower than where it was in the same period last year. Data shows that Wall Street investors have continued to dump assets. According to SoSoValue , all Ethereum ETFs shed $120 million in assets last week after losing $335 million a week earlier — $455 million in total. The net inflow in these Ethereum ETFs is $2.7 billion, much lower than Bitcoin’s ( BTC ) $37 billion. You might also like: Can SHIB price surge 150% as Shiba Inu burn rate rockets over 3,200%? A likely reason for the weak inflow trends is that Ethereum has dropped and underperformed other cryptocurrencies since 2024. Further, Ethereum ETFs do not allow staking, where investors generate a return by delegating their tokens to secure the network. Data by StakingRewards shows that Ethereum yields about 3.25%. Ethereum coins worth over $73 billion have been staked. Ethereum has also faced more challenges. It is no longer the most profitable player in the crypto industry as its 2025 fees stood at $202 million. That’s lower than the fees of other networks, including Jito ( JTO ), Uniswap ( UNI ), Tron ( TRX ), and Solana ( SOL ). Ethereum’s network is also facing substantial competition from popular layer-1 blockchains like Solana and BNB, and layer-2s like Base and Arbitrum. Ethereum price technical analysis ETH price chart | Source: crypto.news The daily chart shows that the ETH price has been in a strong downward trend in the past few months. It has dropped from a high of $4,105 in November last year to $2,160. The current Ethereum price is important because it is slightly above the crucial support level at $2,000. It is also at an important level, where it failed to move below in August and September last year. Most importantly, this price is at the neckline of the triple-top chart pattern. Therefore, losing this support will point to further downward momentum, with the next point to watch being the psychological level at $1,500. Read more: BTC, ETH, XRP, altcoin prices at risk: Nasdaq 100 loses key support

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