Ethereum exchange balances have continued to decline, moving in the opposite direction to Bitcoin over the same three-week period.

ETH supply on trading platforms fell from around 7.70 million on June 2 to about 6.54 million on August 18, which puts roughly 1.15 million coins off exchanges, or around 15% over eleven weeks.

ETH Moving Out

According to Santiment’s latest analysis, Bitcoin moved the other way, as its exchange balance rose about 1.8% from July 28 to August 18. Roughly 23,000 BTC was added back onto such platforms, while ETH balances fell about 2.2% over the same period.

Santiment noted that staking remains near record levels, while corporate treasuries continue adding the altcoin. BitMine Immersion Technologies alone holds close to 5% of the supply, with most of it staked. The company’s treasury holdings grew to 5,815,164 tokens. Meanwhile, Ethereum has surged nearly 20% over the past day, pushing the price above $2,300 for the first time since May.

This 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, during which 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 CLARITY, saying the legislation could help the US stay ahead of China. He also said the US has discussed buying “sizable” amounts of Bitcoin and other crypto assets.

Fresh Institutional Buying

US spot Ethereum exchange-traded funds pulled in $189.15 million on August 19. The last time these products recorded a daily inflow of this size was October 28, 2025. The fresh money has taken August’s total past $534 million.

BlackRock’s ETHA accounted for $122 million of Tuesday’s inflows, while Fidelity’s fund brought in another $36.5 million. Grayscale Mini ETH attracted $16.04 million, while BlackRock’s staking-enabled investment vehicle brought in another $9.71 million. Morgan Stanley’s MSSE also recorded $2.25 million in inflows, and Franklin Templeton’s EZET also saw $790,000 enter the fund.

Source: CryptoPotato