Ethereum (ETH) Price: Investors Pull Nearly 40% from ETF as Sell-Off Deepens

TLDR

• Ethereum ETF (TETH) saw $10.56 million in outflows on January 22, 2026, representing 39.3% of its total assets under management.
• ETH price is currently trading around $2,956, down approximately 24.6% over the past three months.
• The cryptocurrency failed to hold support above $3,000 and is testing the $2,700 demand zone.
• The Coinbase Premium Index shows persistent negative readings, indicating weaker U.S. institutional buying interest.
• Technical indicators show a breakdown from the rising channel pattern, with lower highs and lower lows forming a downtrend.

Ethereum is trading around $2,956 after losing crucial support above the $3,000 level. The price has declined roughly 24.6% over the past three months.

The 21Shares Ethereum ETF experienced heavy outflows on January 22, 2026. Investors pulled $10.56 million from the product in a single day.

This redemption represents 39.3% of TETH’s total assets under management of $26.88 million. The outflow marks one of the largest single-day withdrawals relative to fund size.

The cryptocurrency failed to maintain its early January advance above the mid-$3,000 range. Price action is now oscillating between $2,700 support and $3,500 resistance.

On the daily chart, ETH was rejected from the $3,500 resistance level and the declining 100-day moving average. The 200-day moving average sits higher around $3,800.

The sell-off below the 100-day moving average confirms the trend remains corrective. The focus now shifts to the $2,700 demand region as the next critical area.

ETF Flows Signal Shifting Sentiment

A sustained hold above $2,700 would keep open the possibility of another attempt toward $3,500. A daily close below that zone would indicate a deeper pullback toward $2,200.

The 4-hour chart shows a breakdown from the rising channel that carried the price from $2,800 to near $3,400. ETH is now in a downtrend with lower highs and lower lows forming.

The immediate pivot sits around $3,000 to $3,100. Recovery above this area would suggest a failed breakdown, while continued rejection would maintain pressure on lower support levels.

Market Indicators Point to Weakness

The Coinbase Premium Index for Ethereum has turned negative in recent weeks. Persistent red readings show spot prices on Coinbase trade at a discount compared to Binance.

This configuration signals weaker buy-side interest from U.S. and institutional participants. The discount reinforces that the current decline is driven by technical rejection and conservative U.S. spot flows.

The large ETF outflow suggests investors may be reducing risk after a period of underperformance. For a compact vehicle like TETH, flows of this magnitude can reshape the fund’s investor base.

Technical readings for ETH point to a cautious stance with a sell signal. Momentum remains tilted to the downside as the cryptocurrency tests the $2,700 demand zone.

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