Spot Ethereum ETFs have recorded another day of heavy withdrawals, extending a week-long trend that reflects heightened volatility. These funds saw cumulative net outflows of $248 million on Friday, bringing total outflows for the week to $795 million.
These five consecutive days of losses coincided with a sharp decline in ETH price.
At the time of writing, ETH is trading above the $4,000 zone. However, the cryptocurrency experienced a steep sell-off earlier in the week, plunging from near the $4,500 level on September 21 to as low as $3,850 on September 25.
This drop also coincided with one of the largest derivatives market resets since 2024, according to data from CryptoQuant. Open interest across exchanges fell significantly, and hundreds of millions of dollars worth of long positions were liquidated.
Ethereum long liquidations across all exchanges | Source: CryptoQuant
Whales Accumulate, But Why No Surge?
Amid this price turbulence, large investors have been taking t
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