Crypto: Eth Etf Holders In ‘worse Position’ Than BTC Etf Peers As Crypto...
Bitcoin and Ether spot ETF holders are nursing steep losses as the market continues to search for a local bottom, but data from Bloomberg suggests neither cohort is capitulating.
Bitcoin (BTC) and Ethereum’s native token, Ether (ETH), continue to seach for price stability after trading at respective intraday lows of $66,171 and $1,912 on Thursday.
As this process runs its course, new analysis from Bloomberg analysts investigates how the spot BTC and ETF holders are faring amid sustained price weakness and slowing exchange-traded fund (ETF) inflows.
Net value of the spot Bitcoin ETF assets fell to $85.76 billion from $170 billion (Oct 2025 peak), with the 2026 net flows at about -$2 billion.
The spot Ether ETF asset value dropped to $11.27 billion from $30.5 billion, with ETH trading near $2,000 vs. a $3,500 cost basis.
Only about 6% of Bitcoin ETF assets exited during the recent downturn, indicating limited capitulation.
Bloomberg analyst James Seyffart said Ether ETF holders are “sitting in a worse position” than Bitcoin ETF investors. With ETH below $2,000, well below the estimated $3,500 average cost basis, i.e., the average price at which spot ETF investors accumulated their positions, the drawdown has exceeded 50% at its recent low of $1,736.
By comparison, Bitcoin is currently priced at $66,171, also below its estimated $84,063 ETF cost basis, though the drawdown is notably less at 21%.
Seyffart noted that the total net inflows into ETH ETFs have declined by only about $3 billion, suggesting most ETH ETFs investors have held their positions during the recent dip.
Assets held in the spot Bitcoin ETF peaked at $170 billion in October 2025 and now stand at $85.76 billion. The inflows slowed sharply after mid-2025, with $13.7 billion recorded in the first half of the year, $7.64 billion in the second half and about $2 billion in outflows year-to-date. Since July 2025, the cumulative net flows amount to $5.64 billion.
Source: CoinTelegraph
