Ethereum's exchange balances have dropped by 1.15 million ETH over eleven weeks, moving in the opposite direction to Bitcoin's flows. The decline coincides with a near 20% price surge that pushed ETH above $2,300, fresh ETF inflows, and continued corporate treasury buying.
Ethereum's supply on trading platforms has fallen from about 7.70 million coins on June 2 to roughly 6.54 million on August 18, a decline of about 1.15 million ETH, or roughly 15%, over eleven weeks. Bitcoin moved the opposite way: its exchange balance rose about 1.8% between July 28 and August 18, adding roughly 23,000 BTC back onto trading platforms. ETH balances on exchanges fell about 2.2% over that same July 28–August 18 window.
Staking and Treasuries Absorb Supply
According to Santiment, staking remains near record levels, and corporate treasuries keep adding to their ether holdings. BitMine Immersion Technologies alone holds close to 5% of ETH's supply, with most of it staked, after its treasury holdings grew to 5,815,164 tokens. Meanwhile, ether has surged nearly 20% over the past day, pushing its price above $2,300 for the first time since May.
Washington Meeting and ETF Inflows
The move is being driven by a mix of stronger US crypto policy signals and heavy buying activity. President Donald Trump met with executives from Coinbase, Ripple, Gemini, and other major crypto companies at the White House on Wednesday, where discussions focused on the Digital Asset Market Clarity Act, Bitcoin, and expanding crypto activity in the US. Trump urged Congress to pass a fair version of the CLARITY legislation, saying it could help the US stay ahead of China, and said the US has discussed buying sizable amounts of Bitcoin and other crypto assets.
US spot ether ETFs added fresh cash this week. The funds pulled in $189.15 million on August 19, the biggest daily haul since October 28, 2025. That has pushed August's total past $534 million.
Source: CryptoPotato
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