Ethereum exchange-traded funds (ETFs) are facing their sharpest reversal to date, even as new blockchain projects such as WeWake Finance gain momentum. Ethereum-linked products are seeing heavy capital outflows, while WeWake’s ongoing crypto presale is drawing attention with its focus on accessibility and user-first design.
Record $465 Million in ETH ETF Outflows
On August 4, spot ETH ETFs recorded daily outflows of $465 million, according to SoSoValue. BlackRock’s iShares ETH Trust ETF (ETHA) led the withdrawals with about $375 million leaving the fund. Fidelity’s ETH Fund (FETH) posted $55.1 million in redemptions, and Grayscale’s ETH Trust saw $28 million exit. Its mini ETHE Trust also reported $7 million in outflows.
The sharp withdrawal marks a turnaround from July, when spot ETH ETFs experienced their strongest month since launch. Over 20 consecutive trading days, the products brought in $5.4 billion in net inflows.
BlackRock’s ETHA drew $4.2 billion of that total, ranking as the third-largest ETF by monthly inflows across all asset classes. Fidelity and Grayscale’s products also saw strong activity, with some positions delivering returns near 48% during the rally.
The August drop reflects a shift in sentiment among institutional investors, who are reducing exposure to Ethereum ETFs after weeks of strong demand. With large amounts of capital moving out, attention is turning toward projects that focus on practical blockchain use rather than traditional market instruments.
WeWake Presale Offers Walletless, Gasless Entry
In contrast to the ETF outflows, WeWake Finance is building traction with its Stage 7 presale. The WAKE token is priced at $0.0190, with the next stage set at $0.0205. Early participants receive access to staking, governance, and ecosystem rewards.
Stage 7 has raised $454,108 of its $560,000 target, and 32% of the total 308,726,951 WAKE supply is allocated to presale buyers.
WeWake removes common Web3 barriers by offering a walletless and gasless onboarding process. Users can join using Google or Telegram without handling private keys or paying gas fees.
In addition, its Layer 2 blockchain is powered by zk-rollups, ERC-4337 smart wallets, and a Paymaster system that covers transaction costs. This structure allows non-technical users to interact with dApps without friction.
The project’s whitepaper confirms its focus on building its own blockchain rather than relying on another network. Token storage, staking, and swaps will be available through supported platforms, expanding its reach to both retail and institutional users.
Whitepaper is out 📃
WeWake isn’t built on someone else’s chain – it is the chain.
Zero gas. Smart wallets. Onboarding without wallets or seed phrases.
Because UX can’t be fixed from the surface.👉 https://t.co/orzNP2KTCu pic.twitter.com/bKSQ78Rrtf
— WeWake Finance (@wewake_finance) July 25, 2025
Roadmap Points to Ecosystem Expansion
WeWake plans to launch its public testnet in Q4 2025, including walletless logins, gasless swaps, and a Paymaster sandbox for developers. The mainnet is targeted for Q2 2026, with SDK tools and Telegram mini-app integration to improve onboarding and support developers.
The presale spans 80 stages with tiered pricing, giving early buyers the advantage of lower entry and access to ecosystem features. With a projected listing price of $0.19, Stage 7 participants are positioned for a potential 789% return if the target is reached.
In conclusion, as institutional capital exits Ethereum ETFs, retail interest is shifting toward projects that prioritize usability and mass adoption. WeWake’s no-wallet, no-gas approach offers a path for the next wave of blockchain users and positions the presale as one to watch in the current market.
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