$1.2B worth of Ether leaves CEXs in seven days, hinting strong accumulation

Sentora (formerly IntoTheBlock) reported that $1.2B worth of Ether had been withdrawn from centralized exchanges (CEXs) in the past seven days, signaling continued accumulation and reduced sell-side pressure. The sustained trend of net outflows intensified since the beginning of May.

Data from the crypto market analytics platform Sentora showed that Ethereum saw outflows from centralized exchanges totaling $1.2B in seven days. The data also confirmed that Ethereum’s net flows from exchanges were consistently negative between April 24 and May 1, with a particularly large outflow recorded on April 26. As per Sentora, the sustained trend of net outflows created scarcity that often preceded notable price movement.

Sentora data shows billions in ETH net outflows from CEXs in 2025

$1.2 billion worth of ETH has been withdrawn from centralized exchanges in the past 7 days.

This sustained trend of net outflows, intensifying since early May, signals continued accumulation and reduced sell-side pressure. pic.twitter.com/fMYJmPOnB0

— Sentora (previously IntoTheBlock) (@SentoraHQ) May 14, 2025

Sentora previously reported that $500 million in ETH was withdrawn from CEXs during the first week of February, adding to over $1.2 billion in outflows in a month. Ethereum holders also moved more than 224K ETH (~$581.89M) from centralized exchanges in the 24 hours between February 8th and 9th, marking the largest net outflow in nearly two years.

Early this month (May 2025), centralized exchanges saw net outflows of approximately $380 million worth of Ethereum (ETH) in seven days, adding weight to the ongoing accumulation trend. The Sentora team asserted that this sustained outflow typically reduced available supply on trading platforms–often interpreted as investors moving coins to cold storage rather than preparing to sell, which could increase price volatility and potentially support bullish momentum for ETH in the near term. 

Recent data from Sentora indicated that over the past week, $1.2 billion worth of Ethereum had been withdrawn from centralized exchanges. 

Notably, the last time these CEXs saw a positive inflow of Ethereum was on April 27th, with $50 million worth of ETH. Interestingly, just 24 hours prior, on April 26th, these aggregated exchanges witnessed a negative $166.68 million worth of ETH flows. Such an exchange flow dynamic brought forth the idea that Ethereum investors were probably preparing for a rally.

Data reveals massive net outflows from ETH ETFs

Lookonchain data on May 13th showed that nine ETH ETFs had a combined net outflow of 4.189K ETH ($10.83M). Fidelity led the withdrawals at 3.247K ETH ($8.39M), and its holding dropped to 400,916 ETH (~$1.04B). On May 6th, the nine Ethereum spot ETFs saw a net outflow of 211 ETH worth around $373K.

Farside data on May 12th revealed that Ethereum ETFs saw a net outflow of $17.6 million, just one day after ETH ETFs recorded positive flows.

SoSoValue’s data on May 12th also showed that spot Ethereum ETFs saw a net outflow of $38.15 million last week. Fidelity’s FETH led with the largest outflow at $37.17 million, while BlackRock’s ETHA only had a net outflow of $4.17 million. The total net asset value of spot Ethereum ETFs dropped to $8.03 billion, representing 2.84% of Ethereum’s market cap.

The total value of assets under management (AUM) by Ethereum ETFs dropped to a record low of $4.57 billion on April 18th. These ETFs apparently saw ETH leaving them for seven consecutive weeks as investors took out nearly $1.1 billion worth of ETH. Grayscale’s ETHE was the biggest contributor to these outflows as investors were likely discouraged by its 2.5% management fee compared to BlackRock’s much lower 0.25% fee.  

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