Investors in spot Ethereum $ETH ( ▲ 2.19% ) ETFs are feeling more pain than their Bitcoin $BTC ( ▲ 5.11% ) counterparts, but most are still holding on. Ethereum’s price sits near $1,940, well below the roughly $3,500 average cost basis for many ETF buyers, translating to a drop of about 45%.
By comparison, Bitcoin ETF holders are down less, with Bitcoin trading around $68,800 versus an average ETF cost basis near $83,983, a decline of roughly 18%.
Bigger Losses, Surprisingly Steady Hands
Despite deeper losses, most Ethereum $ETH ETF investors have not rushed for the exits. Net inflows into Ethereum ETFs have dipped from about $15 billion to just under $12 billion, indicating some outflows but not a mass retreat.
Analysts say that relative to the size of the price decline, investor behavior has been relatively resilient so far.
Bitcoin ETFs Seeing Milder Pressure
Bitcoin $BTC funds have also experienced pullbacks, but the drawdowns have been less severe. That smaller gap between current prices and ETF cost bases may be reducing pressure on investors to sell.
The contrast highlights how different parts of the crypto market can move on separate trajectories, even when broader sentiment weakens.
A Test of Long-Term Conviction
The current environment is testing how committed ETF investors really are. So far, Ethereum $ETH holders appear to be showing what traders call diamond hands, sticking with positions even as losses mount.
Whether that resilience holds if prices fall further remains one of the key questions for crypto markets in the months ahead.