Ethereum whales move $260M in ETH to exchanges amid $103M ETF outflows, signaling possible selling pressure.

Ethereum whales, including Garrett Jin, transferred over 113,000 ETH worth nearly $260 million to exchanges Binance and Coinbase Prime on May 8, following $103.5 million in net outflows from US spot Ether ETFs the previous day. Garrett Jin moved 78,077 ETH to Binance while still holding 303,618 ETH, and major ETF issuers BlackRock and Fidelity sent a combined 35,394 ETH to Coinbase Prime. These large transfers to exchange-linked platforms may indicate potential selling pressure in the spot market, especially as they coincide with significant ETF redemptions. Traders are closely watching these movements and Binance order books for signs of spot-market selling that could impact Ethereum's price, which was near $2,289 at the time.