Institutional flows are confirming the stability. Despite weak price action, ETHA (BlackRock’s Spot Ethereum ETF) have been picked up in large numbers.

These holders now lean heavily long, with 486 long positions versus just 1 short. This is despite the cautious outlook. There’s been steady growth in ETHA ownership through late 2025.

Institutions are increasing exposure while sentiment is still fragile. Case in point: Trend Research bought 46,000 ETH in the past day. Their total ETH exposure is now at 626k ETH.

Ethereum is perhaps stuck in a compression.

At press time, the price traded sideways just below the mid-Bollinger Band, with no decisive breakout in sight. The RSI showed neutral momentum at the time of writing, with MACD indicating a loss of direction.

Importantly, downside attempts have been absorbed above the lower Bollinger Band, keeping the $2,800-$2,900 zone intact as short-term support.

Big moves will likely follow broader market cues, rather than lead them.

• Ethereum’s supply is decreasing; 745K ETH queues for staking and exchange balances fall at cycle-fast rates.
• ETHA showed 486 long positions versus just 1 short despite weak price moves.