Ethereum fell below $2,000 as the broader cryptocurrency market pulled back and erased recent gains. Bitcoin also slipped under a key support level and stabilized near $6,800. The total crypto market declined 2.18%, reducing overall valuation to $2.35 trillion. At the same time, Harvard Management Company cut its Bitcoin ETF holdings and added a new position in an Ethereum ETF.
Ethereum’s price decline accelerated as exchange reserves climbed for five consecutive days. During that period, reserves increased by more than 180,000 ETH, signaling rising selling pressure.
Meanwhile, US spot Ethereum exchange-traded funds recorded a fourth straight week of net outflows. According to SoSoValue data, total outflows reached $161.1 million. Although selling from institutional investors continued, the pace slowed compared to the previous month.
Ethereum also failed to reclaim its realized price, reflecting the average investor's cost basis. Historically, prices remain under pressure until ETH recovers this level. This pattern persists as selling activity dominates the market.
On the derivatives side, leverage did not yield expected profits. Open interest edged down to 11.76 million ETH. Funding rates stayed negative, indicating increased short positioning, based on Coinglass data.
Large Ethereum holders paused their buying activity last week but resumed accumulation as prices weakened. Wallets holding between 10,000 and 100,000 ETH scooped up 840,000 ETH since February 4. Their long-term accumulation trend remained intact despite the temporary pause.
In contrast, smaller investors shifted direction. Wallets holding between 100 ETH and 1,000 ETH, as well as those with 1,000 to 10,000 ETH, briefly accumulated early in the week. However, they returned to distribution as the week progressed.
This divergence between whale accumulation and retail selling added complexity to market signals. While large holders increased exposure, retail participants reduced holdings during the downturn.
As exchange reserves climbed and ETFs posted outflows, the data reflected broad caution. Can sustained whale accumulation offset persistent retail and institutional selling pressure?
Harvard Management Company, which oversees Harvard University’s endowment, adjusted its crypto portfolio during the fourth quarter of 2025. A recent SEC 13F filing showed the firm sold 1.48 million shares of the BlackRock Bitcoin ETF, known as IBIT.
This sale reduced its IBIT holdings by 21% and cut exposure to $265.8 million. Before the adjustment, Harvard held approximately 5.35 million shares in the iShares Bitcoin Trust. After the sale, the position declined to 4.23 million shares.
At the same time, Harvard invested $86.8 million in BlackRock’s Ethereum ETF, ETHA. This marked a sizable new entry into the iShares Ethereum Trust. By the end of the quarter, Harvard’s total crypto portfolio reached $352.6 million.
These disclosures, required under SEC 13F rules, provide insight into institutional crypto strategies. Harvard’s move coincided with rising institutional interest in Ethereum.
All endowments, pension funds, and hedge funds in the market now expand their cryptocurrency investments beyond Bitcoin. Institutional investors have focused on Ethereum because of its function as a platform for decentralized application development.
Institutions maintain their investment in store-of-value cryptocurrencies while investing in digital tokens that promote business expansion as crypto markets progress. Harvard University changed its investment strategy during a time of market uncertainty because of its increased interest in Ethereum-based financial products
Also Read: Ethereum Tests US$1,700 Support Ahead of Weekly Close: What’s Next in the Market?
Ethereum price fell below $2,000 as the wider crypto market dipped and Bitcoin price steadied near $6,800. Exchange reserves rose while US spot Ethereum ETFs posted four straight weeks of net outflows. Whales added 840K ETH since February 4 as retail wallets returned to selling. Traders are watching ETF flows and reserves for clues on future trends.