Ether Holds $2.5K as Whales and Sharks Accumulate 1.49M ETH Despite ETF Outflows

Ether (ETH) hovered above a critical support level on Friday, defying bearish pressure from spot ETF outflows as major investors ramped up their holdings.

The token was last seen trading at $2,508, down 0.88% in the past 24 hours, but staying firmly above the $2,500 threshold, a level watched closely by traders.

According to data from Santiment, wallets holding between 1,000 and 100,000 ETH — commonly known as whale and shark addresses — have accumulated a net 1.49 million ETH over the last 30 days. This cohort increased its share of total supply by 3.72%, now controlling 26.98% of all ether in circulation.

The data suggests a stark contrast in behavior between large holders and retail investors. While smaller wallets have been trimming exposure and locking in profits, whales and sharks have quietly been adding to their positions — signaling rising long-term confidence in the asset.

Meanwhile, U.S.-listed spot Ethereum ETFs saw $2.2 million in outflows on Friday, ending a 19-day streak of consecutive inflows, according to figures from Farside Investors.

Despite the ETF pullback and ongoing macro uncertainty, ETH has maintained its technical footing. After slipping from recent highs near $2,870, the asset continues to consolidate above a strong historical support zone around $2,500.

Many market watchers see the continued whale accumulation as a potential buffer against further downside, especially if broader conditions stabilize and regulatory clarity emerges in the coming weeks.

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Technical Snapshot:

• ETH traded in a tight range between $2,499.39 and $2,580.53 over 24 hours.
• Intraday highs near $2,580 gave way to gradual selling pressure.
• The token briefly dipped below $2,500 but rebounded sharply, ending near $2,518.76.
• A notable spike in volume occurred around 17:30–18:00 GMT, coinciding with the bounce.
• Key support is building near $2,500, both psychologically and technically.
• ETH posted a modest 3.14% intraday range, suggesting short-term price stability.