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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
07/01/2026

ETH ETFs See $345M Outflows Despite BitMine, Sharplink Treasury Buys

What happened: Since June 17, BitMine Immersion (BMNR) and Sharplink (SBET) acquired $182M in ETH, but US-listed spot ETH ETFs saw $345M in net outflows over the same period.

ETH ETFs See $345M Outflows Despite BitMine, Sharplink Treasury Buys

What happened: Since June 17, BitMine Immersion (BMNR) and Sharplink (SBET) acquired $182M in ETH, but US-listed spot ETH ETFs saw $345M in net outflows over the same period. Ethereum traded at $1,568.61, down 31% since May, with network fees and DApp revenues also declining. BitMine now holds 5.7M ETH (~4.7% of supply) after a recent 27,084 ETH purchase.

Why it matters: The outflows from ETH ETFs, outpacing corporate treasury accumulation by nearly 2:1, highlight bearish sentiment and continued pressure on ETH price. While RWA tokenization on Ethereum has grown to a $14.5B market cap and staking yields remain at 2.7%, declining on-chain activity and DApp revenues suggest headwinds. Bulls point to "window-dressing" and fundamental growth, but near-term flows remain negative.

Source: Cointelegraph