In brief
- Bitcoin ETFs experienced $1.2 billion in redemptions over three days as investors took profits at all-time highs, while Ethereum ETFs saw their 12th consecutive day of inflows totaling $634 million.
- Publicly traded SharpLink Gaming raised $425 million to launch an Ethereum treasury reserve, and its stock price has surged albeit with substantial volatility.
- Analysts attribute Ethereum’s momentum to growing institutional interest and renewed confidence in the network’s roadmap, with promises of 10x scaling improvements in the coming year.
Bitcoin ETF redemptions have surpassed $1.2 billion over the past three days as Ethereum ETFs marked their 12th day in the green on Monday. Analysts see this as BTC fund investors using recent all-time high prices to take profits while institutional momentum keeps building for ETH.
Bitcoin ETFs saw $268 million in outflows on Monday, according to data from Farside Investors.
“In contrast, Ethereum [funds] recorded $78 million in inflows, marking a 12-day streak totaling $634 million—the strongest accumulation trend since ETF approval,” wrote BRN analyst Valentin Fournier. “This flow divergence highlights growing institutional interest in ETH, while suggesting sustained profit-taking on BTC, especially as retail demand stays muted.”
Ethereum co-founder and Consensys founder and CEO Joseph Lubin sent another celebratory message about publicly traded gaming company SharpLink Gaming, which completed a $425 million investment round that it will use to fuel its new Ethereum treasury reserve. (Disclosure: Consensys is one of 22 investors in an editorially independent Decrypt.)
“Soon, stablecoins will replace dollars in global settlement. Public markets are beginning to understand this. We’re proud to lead a $425 million private placement into SharpLink ($SBET) to bring Ethereum exposure to traditional capital markets,” he wrote on X.
The global economy is digitizing. Every institution, corporation, and country runs on fragmented, bespoke infrastructure. What the internet did for information, Ethereum is doing for value: A shared, open standard for programmable money.
— Joseph Lubin (@ethereumJoseph) June 3, 2025
It’s worth pointing out, though, that SBET has had a rocky start as an Ethereum treasury company. Its share price peaked at $105.59 on Friday, slid to $46.34 yesterday and has now rebounded 29% to $71.60 at the time of writing.
Meanwhile, Ethereum has risen above $2,600 and is currently trading 4.5% higher than it was this time yesterday, according to CoinGecko data. By contrast, Bitcoin has gained 1.8% since yesterday and is currently changing hands for just over $106,000.
Looking at the bigger picture, BRN’s Fournier added that market momentum still remains fragile.
“With clear signs of rotational flows into altcoins, we are maintaining a high-risk allocation and tilting further into outperforming assets,” he wrote.
But specifically for Ethereum, GSR analyst Carlos Guzman said the roadmap for the layer-1 has been inspiring more confidence among investors.
He alluded to Ethereum Foundation co-director Tomasz K. Stańczak saying that the network will grow tenfold in the next year—a sentiment that was echoed by none other than Ethereum co-founder Vitalik Buterin.
“There was a lot of criticism about [Ethereum] moving slowly and that the layer-2 roadmap not being at the best for it,” Guzman told Decrypt. “[The Ethereum Foundation] really shifted their dynamic and communication to prioritize at the L1 layer. Still definitely supporting L2s, but maybe giving more of a little bit of attention as well for the L1.”
Decrypt reporter André Beganski contributed to this report.
Edited by Andrew Hayward
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