Ethereum spot ETFs recorded $19.41 million in net outflows on December 12 as ETH price stalled near the $3,000 level.
Summary
- Ethereum ETFs posted $19.41M in net outflows on December 12 amid mixed fund activity.
- BlackRock ETHA saw inflows, but Grayscale and Fidelity outflows dragged totals lower.
- Analysts flag bullish ETH setup despite short-term weakness near $3,000 support.
BlackRock’s ETHA attracted $23.25 million in inflows while Grayscale’s ETHE and ETH funds posted combined withdrawals of $36.52 million.
Ethereum (ETH) traded at $3,157 with a 24-hour range of $3,054.43 to $3,261.13. The token has dropped 5.4% over the past 24 hours and 12.6% over the past 30 days.
Mixed flows across Ethereum ETF providers
The December 12 outflows followed a volatile week for ETH ETFs. December 9 posted one of the largest inflow at $177.64 million, followed by $57.58 million on December 10.
The funds then reversed with $42.37 million in outflows on December 11 before Thursday’s $19.41 million withdrawal.
Fidelity’s FETH saw $6.14 million in outflows on December 12. Grayscale’s legacy ETHE fund recorded $14.42 million in redemptions, while Grayscale’s mini ETH trust posted $22.10 million in withdrawals.
Bitwise’s ETHW, VanEck’s ETHV, Franklin’s EZET, 21Shares’ TETH, and Invesco’s QETH all posted zero flow activity.
BlackRock’s ETHA remains the largest ETH ETF with $13.23 billion in cumulative net inflows.
Grayscale’s ETHE holds -$5.02 billion in net outflows since converting from a trust structure. Fidelity’s FETH has accumulated $2.66 billion in total inflows.
Total net assets under management for Ethereum ETFs stood at $19.42 billion as of December 12. Cumulative total net inflow across all funds reached $13.09 billion. Total value traded hit $1.84 billion on December 12.
Analysts eye inverse head and shoulders ETH pattern
Donald Dean identified an inverse head and shoulders formation on Ethereum’s chart with a price target of $4,955.90. “Price recently launched higher from the volume shelf and is moving to the $3,300 volume shelf for a potential launch area,” Dean wrote on X.
The analyst pointed to the technical pattern suggesting bullish continuation after ETH completes the formation. The $4,955.90 target would be a roughly 57% gain from current levels.
Ted highlighted liquidity clusters at key price levels. “Ethereum has a big liquidity cluster at the $3,000 level. On the upside, there are liquidity clusters at the $3,150 and $3,250 levels,” Ted posted on X.
The analyst suggested ETH could sweep downside liquidity at $3,000 before reversing higher, similar to Bitcoin’s recent price action. The $3,150 and $3,250 levels are near-term resistance zones where limit orders have accumulated.