Ethereum Price Dips to $3,055 Amid Whale Buying and New '40 Act' ETF Launches

On November 16, 2025, the price of Ethereum (ETH) closed at $3,055.16, marking a 3.35% decrease over the preceding 24 hours, despite concurrent evidence of growing institutional engagement through new product introductions and significant acquisition by major holders. The day’s trading saw ETH fluctuate between a high of $3,243.42 and a low of $3,031.90, positioning the asset near the lower boundary of its Bollinger Band, which was calculated at $2,976. This market movement occurs within the context of ongoing regulatory developments for digital assets in the United States, which influence recent market dynamics.

Major Ethereum holders, commonly referred to as 'whales,' have demonstrated sustained conviction following a recent market correction exceeding 12% from monthly peaks. Over a three-day period earlier in November, these large-scale entities accumulated approximately $1.37 billion worth of ETH, indicating a strategic accumulation phase despite immediate downward price pressure. This influx of capital from significant investors contrasts with immediate technical indicators, which suggest continued bearish momentum. For instance, the Relative Strength Index (RSI) registered 34.23, approaching oversold levels, while the Moving Average Convergence Divergence (MACD) confirmed the negative trend with a reading of -204.89.

A fundamental catalyst entered the market narrative when the issuer 21Shares launched two U.S.-listed cryptocurrency index Exchange Traded Funds (ETFs) on November 13, 2025. These new products, the 21Shares FTSE Crypto 10 Index ETF (TTOP) and the 21Shares FTSE Crypto 10 ex-BTC Index ETF (TXBC), are structured under the Investment Company Act of 1940, which subjects them to stricter oversight generally preferred by institutional investors compared to the '33 Act framework utilized for many earlier crypto products. These ETFs offer diversified exposure to assets including Ethereum, Solana, and Dogecoin, with TTOP carrying a 0.50% fee and TXBC a 0.65% fee.

The introduction of these '40 Act funds, which rebalance quarterly to track the top 10 crypto assets by market capitalization, signals a maturation in regulated digital asset investment vehicles. Federico Brokate, 21Shares’ Global Head of Business Development, noted that clients expressed a desire for a simple, regulated method to gain broad exposure. This institutional focus contrasts with recent data showing a divergence in ETF flows; for example, on November 11, 2025, nine Ethereum spot ETFs recorded net outflows totaling $107 million, while Bitcoin spot ETFs attracted $524 million in net inflows, suggesting a current preference for Bitcoin among ETF participants.

Ethereum’s current price action represents a critical juncture where the structural support from new regulated products and whale accumulation must overcome immediate bearish signals from momentum indicators. Historical analysis suggested by the Bollinger Band positioning indicates that price levels near $2,976, where ETH is currently testing the lower boundary, frequently precede significant reversals, particularly when supported by strong fundamental accumulation like the $1.37 billion whale buying. The asset’s capacity to maintain levels above the $3,031.90 low and defend technical support zones around $3,057 will be crucial in determining if fundamental catalysts can initiate a relief rally.