ETFs Record $16.8M Outflow as ETH Struggles Near $2,300 Amid Jin's $1.35B Binance Dump

ETH trades near $2,300-$2,350, facing bearish pressure from US spot ETFs' $16.85M net outflow on May 11 and Garrett Jin's 577,896 ETH ($1.35B) deposits to Binance (May 8-11), boosting reserves to 3.62M ETH. This follows early week's $103.5M ETF outflows on May 7, mid-tier whale sales of 3.4M ETH, Hyperunit's $180M dump, and Ethereum Foundation's 21,271 ETH ($50M) unstaking. Offsetting factors include Bitmine's slowed buys adding 26,659 ETH (total 5.21M ETH, 4.3% supply) and whales scooping 360K ETH ($832M) on the dip.