Record day for spot ETH funds
The August 27 haul was the biggest single-session inflow of the year, but the pace has since cooled. Daily inflows fell to $102.2 million by August 29 and $87.7 million by August 31, while trading volume across the funds dropped from $1.37 billion on August 28 to $742 million by the end of the month.
Even with the slowdown, August brought in $1.852 billion in net inflows — the strongest month since August 2025. That flipped 2026's cumulative net flows to positive at $734 million, after the funds saw $1.12 billion in redemptions between January and July. Total net inflows into spot Ethereum ETFs now stand at $13.06 billion.
Whale shifts $174 million to exchanges
A large Ethereum holder moved a significant chunk of their position to exchanges this week. The whale received 167,855 ETH — worth roughly $408 million at the time — and deposited 70,739 ETH, about $174 million, to trading platforms over two days. They still hold 97,115 ETH, worth around $237 million.
Large deposits to exchanges often signal an intent to sell, though the whale hasn't offloaded everything. The remaining stack is still substantial.
Leverage and reserves point to calmer market
Leverage in the Ethereum market has been trending down. Binance's estimated leverage ratio for ETH fell from 0.99 in early June to 0.647 — a sign that traders are less exposed to forced liquidations. One analyst noted that lower leverage reduces the likelihood of widespread, cascading liquidations in a sudden downturn.
Exchange reserves are also thinning. Ethereum reserves on exchanges dropped to 14.92 million
