Ethereum (ETH) is experiencing its first major movements tied to the newly launched Ethereum ETF. Whale activity, particularly transfers to Coinbase wallets, may signal rising demand for the asset.
Key ETH Transfer by Cumberland
- Cumberland, a leading crypto liquidity provider, recently moved 10,759 ETH (~$36.31M) to exchanges.
- 8,481 ETH (~$28.63M) was deposited into Coinbase, with smaller amounts sent to Gemini and FalconX.
- The firm retains 8.14K ETH in reserves, alongside 1,354 BTC.
Cumberland holds a BitLicense, enabling it to operate in New York, and partners with major ETF issuers. This positions it as a critical source of regulated liquidity for the Ethereum ETF market.
"Within 1 hour, Cumberland deposited 10,759 ETH (~$36.31M), primarily to Coinbase."
— The Data Nerd
Fidelity’s Growing ETH Holdings
Part of Cumberland’s liquidity landed in Fidelity’s custodial wallet, which now holds 209K ETH. This could make Fidelity a key player in spot ETH trading for ETFs.
Ethereum ETF Demand and Grayscale Outflows
Slowing ETHE Outflows
- Grayscale’s ETHE fund outflows have decelerated to $210M daily, down from peak selling.
- ETHE shares trade at **$28** (~$2,800 ETH), still below parity with spot ETH.
- Grayscale’s ETH holdings dropped from 3M to 2.5M ETH in recent weeks.
"ETH ETF flows are stabilizing, with ETHE outflows tapering off."
— Defi_Maestro
ETH Token Demand Surge
- 40% of ETH supply is locked (28% staked, 12% in bridges/smart contracts).
- ETFs require unlocked coins to back new shares, tightening supply.
- Old wallets are reactivating, including a 2,000 ETH stash untouched for 9 years.
👉 Explore Ethereum’s latest price trends
Ethereum ETF Performance Highlights
Top Performers
Bitwise Ethereum ETF
- $265M inflows in its first week.
- $200M trading volume.
- Zero fees for 6 months or until reaching $500M AUM.
BlackRock’s ETHA
- $442M inflows since launch.
- Expected to attract traditional finance allocations.
Market Outlook
- ETH price stabilized at $3,350.34** after dipping to **$3,000.
- Futures open interest lags behind BTC, suggesting room for growth.
FAQs
1. Why did Cumberland move 10K ETH to exchanges?
To provide liquidity for Ethereum ETF issuers and meet potential demand from institutional investors.
2. How do Grayscale’s outflows affect ETH’s price?
Slowing outflows reduce sell pressure, allowing the price to stabilize and potentially rally.
3. What percentage of ETH is locked?
Roughly 40% (28% staked, 12% in bridges/smart contracts).
4. Which Ethereum ETF has the most inflows?
BlackRock’s ETHA leads with $442M in total inflows.
5. Could old ETH wallets impact the market?
Yes—reactivated wallets add to circulating supply, but long-term holders often hold rather than sell.
👉 Track real-time ETH ETF data
Cryptopolitan reporting by Hristina Vasileva
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