Ethereum ETF Exodus Hit $900M, $10K Still Possible?

Ethereum

Ethereum ETF Exodus Hit $900M, $10K Still Possible？

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Ethereums bearish price action has been a concern for investors and traders for nearly all of this year. It traded below $1,600 on Thursday, slipping further as spot Ether exchange-traded funds (ETFs) in the United States continued their losing streak.

US Spot ETH ETF Net Flows. Source: SoSoValue

SoSoValue said net outflows from ETH ETFs reached $909 million since Donald Trump reintroduced trade tariffs.

That figure includes $12.01 million withdrawn on Wednesday alone, pushing total net assets down more than 60%, from $14.28 billion in Dec. 2024 to $5.25 billion.

The persistent selling pressure underscores growing institutional skepticism as macro uncertainty rattles markets.

ETF Exodus Raises Institutional Red Flags

ETH is down 35% since Jan. 1, with its year-to-date return now at -52%. While the asset closed 2024 with a 62% gain, most of that upside has now reversed.

Several key voices have highlighted the weak sentiment. “ETH chart is really sad to look at,” said CryptoBirb in a recent post.

ETH/USD 1-D chart price chart. Source: CryptoBirb/X

ETF providers, including Grayscale, 21Shares, Bitwise, and Fidelity, are waiting for the U.S. Securities and Exchange Commission (SEC) to approve staking functionality within their ETH funds.

If approved, the feature could provide up to 3% yield, possibly slowing capital flight.

However, with prices stuck near 2022–2018 levels, investors have shown limited appetite for long exposure.

Justin Sun Holds Steady Amid ETH Downtrend

Tron founder Justin Sun stated Thursday on X that he has “no intention” of selling ETH, reaffirming his long-standing support. He posted,

“ETH is currently at a low price, but we have no intention of selling our ETH holdings.”

Justin Sun says Tron wont sell ETH. Source: Justin Sun | X

Data from Arkham shows one wallet, potentially linked to Sun, holds over 168,000 stETH.

While reports indicated he transferred large ETH volumes to HTX in Q4 2024, much of his stake appears untouched.

Suns comment came just days after blockchain analytics platform Lookonchain flagged a massive 49,681 ETH deposit—worth $79.37 million—by Galaxy Digital to Coinbase and Binance, potentially signaling a sell-off.

ETH Price Drifts Below Key Averages as Bears Stay in Control

Ethereum continued to trade sideways near $1,590 on Apr. 18, unable to reclaim lost ground after weeks of selling.

ETH/USD 1-day price chart. Source: TradingView

On the daily chart, ETH remains locked below both the 50-day and 200-day exponential moving averages—currently at $1,927 and $2,568, respectively.

These levels are no longer just technical indicators. Theyve become moving ceilings for any recovery attempt.

Ethereum has been stuck in a downtrend since February, with each bounce falling short of the last.

That steady string of lower highs shows buyers are losing steam. For now, price action is compressed between $1,550 and $1,600 as traders wait to see which side breaks first.

A push above $1,950 could shift momentum back to the bulls. But unless that happens, the bias leans lower.

Dropping below $1,550 might open the door to $1,350—a level the market hasnt touched since early 2023.

Charts Offer Glimpse of Hope—But Not Much

Analyst Belle outlined a Power of Three (PO3) formation, which includes consolidation, deviation, and breakout phases. She projected a potential ETH price target near $10,000 if this structure plays out.

ETH/USD 1-week chart. Source: Belle | X

Meanwhile, the CME ETH futures chart reveals four unfilled price gaps, starting at $1,763 and extending to $3,930. Gap fills are not guaranteed but often serve as targets in technical recovery setups.

Market analyst Niels, an ETH holder, admitted the asset has been “the biggest disappointment of this cycle,” citing failed expectations despite ETF launches and major upgrades.

ETH/USD 5-day chart. Source: Niels | X

He emphasized that only two catalysts—Federal Reserve easing and ETF staking approval—might revive ETHs price performance.

With ETF outflows mounting and macro pressures lingering, investor confidence has eroded. While some whales like Sun remain bullish, broader sentiment reflects doubt.