Investor pullback was most evident across flagship products, as Fidelity’s FBTC saw $117.45 million in redemptions, Ark Invest’s ARKB dropped $125.49 million, and Bitwise’s BITB faced $66.37 million in outflows.
The losses were also pronounced on the nine Ethereum ETFs side.
Additional declines came from Bitwise’s ETHW ($45.66 million), VanEck’s ETHV ($17.22 million), and Grayscale’s flagship ETHE ($26.44 million).
Meanwhile, Grayscale’s mini ETH fund shed $6.44 million, while Invesco’s QETH and Franklin’s EZET posted more minor losses of $2.13 million and $1.62 million, respectively.
This trend suggests that traditional finance institutions are not solely chasing price exposure. Instead, they appear to be combining outright directional trades with arbitrage strategies as ETH trades below its recent local highs.
