The divergence between spot ETF outflows and whale accumulation tells an interesting story. While institutional trading flows show significant redemptions from ethereum spot products, major ETH holders have been steadily building positions worth over $1 billion—a classic contrarian signal. With ETH currently trading at $2.02K and facing short-term pressure (-7.43% in 24h), this smart money positioning suggests sophisticated investors are preparing for a potential recovery once macroeconomic uncertainty subsides. The $243.56B market cap combined with this accumulation pattern indicates institutions may be eyeing the next upswing as volatility continues.