Spot Ethereum ETFs took another hit after U.S. funds recorded $87.8 million in net outflows on Apr. 29, according to Farside Investors. The move added fresh pressure to ETH at a moment when the token was already struggling to hold momentum above the $2,300 area.
BlackRock led the daily exit. Farside data shows $37.1 million leaving ETHA and another $2.3 million leaving ETHB, putting BlackRock’s combined Ethereum ETF outflow at $39.4 million. Fidelity’s FETH also posted a larger $48.4 million outflow, while the remaining tracked products were flat on the day.
Ethereum recently traded near $2,257, down almost 3% on the day, after moving between roughly $2,223 and $2,345. That leaves ETH below the $2,400 resistance zone traders have been watching for a cleaner breakout attempt.
The outflow matters because Ethereum needs stronger institutional and retail demand to confirm a bigger recovery. Recent data shows that liquidity across echanges dries up and if ETF flows turn red and price sits under resistance, the market starts asking whether the latest bounce has enough fuel.
For now, the setup is simple: ETH bulls need ETF flows to stabilize and price to reclaim $2,400. If outflows continue, the next pullback could test whether buyers are still willing to defend the low-$2,200 range.
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