Ethereum ETF buyers are sitting on a far uglier entry level than their bitcoin counterparts, in response to Bloomberg Intelligence analyst James Seyffart, with spot ETH funds now absorbing a drawdown that has left many patrons deep underwater.<\/p>\n
\u201cEthereum ETF holders are sitting in a worse position than their Bitcoin ETF brethren,\u201d Seyffart wrote<\/a> on X late Tuesday. \u201cThe current ETH price of $2,000 is way below their average cost basis of ETF holders at about ~$3,500. It\u2019s a painful proposition. But it\u2019s one that Eth ETF holders have experienced already.\u201d<\/p>\n Seyffart added that the latest ETH ETF trough pushed the drawdown \u201cbeyond 60%,\u201d roughly matching the proportion decline ETH noticed at its April 2025 low, framing the transfer as extreme however not unprecedented for ether\u2019s investor base<\/a>.<\/p>\n Even so, he argued the investor response has been extra stoic than the worth motion implies. \u201cStill, the vast majority of buyers have stayed put,\u201d he wrote, pointing to internet inflows throughout the ETH ETF complicated falling from roughly $15 billion to under $12 billion \u2014 a materially bigger deterioration than bitcoin ETFs \u201con a relative basis,\u201d however, in his phrases, \u201cstill fairly decent diamond hands in grand scheme (for now).\u201d<\/p>\n Fresh movement information suggests the bleeding has slowed, however not flipped decisively<\/a>. SoSoValue information exhibits US spot ether ETFs took in about $13.82 million in internet inflows on Feb. 10. That adopted per week of internet redemptions totaling roughly $166 million, extending a multi-week outflow streak.<\/p>\n On a month-to-month foundation, SoSoValue figures peg final month\u2019s internet movement at about $350 million in outflows. Cumulatively, complete internet belongings are at $11.76 billion as of Feb.10.<\/p>\n Against that backdrop, Goldman Sachs\u2019 newest 13F disclosure added a distinct form of sign: conventional finance\u2019s publicity is more and more seen, and never confined to bitcoin. On Tuesday, Goldman disclosed about $2.36 billion in crypto-related positions, together with roughly $1.06 billion tied to identify bitcoin ETFs and about $1.0 billion to identify ether ETFs, alongside smaller exposures of about $153 million in XRP and $108 million in Solana \u2014 a roughly 0.33% allocation within the context of its broader holdings.<\/p>\n The reactions on X leaned into the optics. Binance founder Changpeng \u201cCZ\u201d Zhao framed<\/a> the submitting as a positioning hole between crypto natives and banks: \u201cCrypto is probably the only place you had an earlier start than the banks. But if you sold your crypto last quarter, while the banks are buying, then\u2026\u201d<\/p>\n MoonRock Capital founder Simon Dedic focused<\/a> on the ETH sizing itself: \u201cVery interesting to see them holding almost as much ETH as Bitcoin. For a conservative investment bank that typically sticks to standard portfolio structures like market cap weighting, this speaks volumes on how they\u2019re significantly more bullish on Ethereum than Bitcoin, which would normally be 4\u20136x larger in such portfolios. This is the institutional supercycle<\/a>, and ETH is clearly the institutional darling.\u201d<\/p>\n At press time, ETH traded at $1,949.<\/p>\n Featured picture created with DALL.E, chart from TradingView.com<\/p>\n<\/div>\nRelated Reading<\/span><\/h2>\n<\/p>\n
Goldman Sachs Is Bullish On Ethereum<\/h2>\n
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