According to @lookonchain, 10 Bitcoin ETFs posted net outflows of 3,693 BTC totaling $399.2M on Oct 30, 2025, source: @lookonchain on X on Oct 30, 2025. Fidelity recorded outflows of 1,482 BTC worth $160.2M and currently holds 205,365 BTC valued at $22.2B, source: @lookonchain on X on Oct 30, 2025. In contrast, nine Ethereum ETFs saw net inflows of 5,135 ETH totaling $19.51M on the day, source: @lookonchain on X on Oct 30, 2025. Grayscale Ethereum Mini Trust took in 18,101 ETH worth $68.78M and now holds 743,453 ETH valued at $2.83B, implying other ETH ETFs collectively had net outflows of roughly 12,966 ETH based on the same dataset, source: @lookonchain on X on Oct 30, 2025.

According to @EmberCN, on Sep 17, 2025 the Grayscale Ethereum Mini Trust ETF address transferred 214,400 ETH to 67 new wallets in equal 3,200 ETH tranches worth about 967 million dollars. Source: https://twitter.com/EmberCN/status/1968141623600222368; https://intel.arkm.com/explorer/entity/grayscale Each 3,200 ETH lot equals 100 Ethereum validators at 32 ETH per validator, a standard Proof of Stake unit size. Source: https://ethereum.org/en/staking The author suggests this pattern looks like preparation for PoS staking and notes that US spot ETH ETFs do not have staking approval. Source: https://twitter.com/EmberCN/status/1968141623600222368 There is no confirmation of staking in the cited on-chain transfers, only distributions across new wallets are visible. Source: https://intel.arkm.com/explorer/entity/grayscale If these wallets later send funds to the Ethereum Beacon chain deposit contract 0x00000000219ab540356cBB839Cbe05303d7705Fa, the 3,200 ETH per wallet would correspond to 100 validators per wallet and up to 6,700 validators in total, contingent on actual deposits. Source: https://ethereum.org/en/staking/deposit-contract; https://ethereum.org/en/staking Trading takeaway: monitor these 67 wallets and the Beacon deposit contract for follow-through deposits to gauge potential staking flows and any related liquidity tightening signal on ETH. Source: https://intel.arkm.com/explorer/entity/grayscale; https://ethereum.org/en/staking/deposit-contract