Ethereum Exchange Reserves Fall to Multi-Year Low Amid Rising Staking and ETF Inflows
Ethereum balances on centralized exchanges have dropped below 14.9 million ETH following fourteen months of sustained withdrawals.
Ethereum balances held on cryptocurrency exchanges fell to a multi-year low of 14,882,226.7 ETH on September 8, 2026, according to metrics from CryptoQuant. Exchange reserves have experienced a continuous reduction from approximately 21.3 million ETH on July 1, 2025, representing net outflows of over 6.4 million ETH over a 14-month period. On Binance, available reserves decreased to roughly 3.74 million ETH, reaching a three-month low.
The decline in exchange balances has occurred alongside steady institutional demand and network staking. US spot Ethereum ETFs have generated around $2.345 billion in net cash inflows since July 1, bringing aggregate fund assets to $15.57 billion, according to SoSoValue. Additionally, approximately 43.1 million ETH, or 35.91% of the circulating supply, is currently locked in staking.
Evaluating the market structure, analyst Ali Martinez highlighted on-chain distribution metrics showing technical support at $2,475, where 2.86 million ETH were transacted. Martinez reported that maintaining this level keeps a path open toward $2,723, while noting that a supply cluster of more than 10 million ETH between $2,723 and $2,822 represents a substantial resistance zone.
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