Ethereum ETFs End 4-Week Outflow as Whales Accumulate, Recovery at Risk

Ethereum has broken a four-week streak of ETF outflows. Spot ETFs recorded net outflows in the weeks ending January 23, January 30, February 6 and February 13, then posted a net inflow of $6.80 million for the week ending February 18. That shift suggests institutional selling has paused, though the inflows remain weak compared with prior outflows.

Large wallets have started accumulating again, rising from 113.50 million ETH on February 15 to 113.63 million ETH — an increase of 130,000 ETH, roughly $253 million at current prices. Momentum on the 8-hour chart shows a bullish RSI divergence between February 2 and February 18, a pattern that preceded earlier rebounds of about 11% and 6% this month.

Offsetting those positives, long-term holders have been selling into rallies. The Hodler Net Position Change moved from a 30-day sell of 34,841 ETH on February 17 to 38,877 ETH by February 18, a jump in distribution that capped prior bounces.

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