$ETH Exchange Reserves Fall to Multi-Year Low Amid Renewed Institutional Demand
The supply of Ethereum on all cryptocurrency exchanges has fallen to a fresh multi-year low. According to data from CryptoQuant, as of September 8, 2026, there were approximately 14.9 million $ETH on exchanges.
This marks the lowest level since July 1, 2025, when around 21.3 million $ETH was on exchanges. Since then, about 6.4 million $ETH has been withdrawn from all crypto exchanges over the past 14 months.
The decline in Ethereum supply on exchanges coincides with renewed institutional demand for the altcoin. United States spot $ETH exchange-traded funds (ETFs) have recorded roughly $2.345 billion in net cash inflow since July 1, holding assets valued at $15.57 billion at the time of publication.
Crypto analyst Ali Martinez expects a rally towards $2,723 next, citing Ethereum's UTXO Realized Price Distribution (URPD) as evidence of strong support around $2,475 and resistance near $2,723.