When Bitcoin falls, altcoins typically follow, and Ethereum has not been immune. Ethereum is down 38% over the past month versus Bitcoin’s 28% drop. But here’s where things get interesting: While many Bitcoin ETF holders have cut their losses, ETH ETF holders are showing diamond hands. In fact, inflows today remain significantly higher than they were at ETH’s cycle peak back in October 2025.
These investors sit roughly 45% down from the average cost basis of spot Ethereum ETF holders, according to Bloomberg ETF analyst James Seyffart. And yet, their long-term conviction is strong. That’s what it means to have “diamond hands.” They are long-term bullish on their crypto holdings.
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