The ETH reserve of the centralized trading platform (CEX) is an important indicator for measuring short-term market sentiment and selling pressure. When a large amount of ETH flows out of trading platforms, it usually indicates that investors are transferring it to personal wallets for long-term holding, or using it for staking and DeFi applications, all of which indicate bullish sentiment and long-term accumulation intentions.
The data shows that the outflow of ETH from centralized trading platforms is at a historical high. For example, between August 23 and 27, 2025, Binance’s ETH reserves decreased by approximately 10% in less than a week, from 4.975 million ETH to 4.478 million ETH. This sustained outflow trend indicates that the market structure is shifting from short-term speculative dominance to long-term holding dominance, which is a positive signal for ETH price stability and future growth.
BINANCE:https://accounts.binance.com/register?ref=E2222
GATE:https://www.gate.com/signup/FFFFNNNN
HTX:https://www.htx.com/invite/en-us/1f?invite_code=aaaee
Large institutional holders: the rise of the new ‘whale’
The US Securities and Exchange Commission (SEC) has approved nine issuers to launch live Ethereum ETFs, including top global asset management companies such as BlackRock, Grayscale, and Fidelity. This event is a decisive event in the process of “financialization” of Ethereum. It provides an unprecedented and convenient Ethereum investment channel for global traditional finance (TradFi), transforming ETH from an asset primarily held by cryptocurrency native investors to a widely accessible investment product.
BlackRock’s entry speed and scale are remarkable. According to relevant data, as of September 2, 2025, BlackRock has held over 3 million ETH through its spot Ethereum ETF (ETHA), with a total value of approximately $12.9 billion. This position accounts for approximately 2.5% of the global circulating supply, officially elevating it to the “whale” of Ethereum. BlackRock’s rapid accumulation proves that the entry of traditional capital will have a profound impact on the distribution of ETH chips.
In addition to traditional financial giants, some listed companies also consider Ethereum as their core reserve asset. For example, the cryptocurrency mining company BitMine has transformed into a company with Ethereum as its core reserve asset. The company currently holds 1.86 million ETH with a total value of approximately $8 billion, making it one of the largest enterprise ETH holders in the world.