Spot Ethereum exchange-traded funds posted their largest weekly outflows since inception as cryptocurrency prices declined across markets. The funds lost $795.6 million during the week ending Sept. 26, surpassing previous record outflows.
BlackRock's industry-leading ETHA fund saw over $200 million in outflows while maintaining $15.2 billion in assets under management. Fidelity's FETH experienced larger relative losses with $362 million in weekly outflows.
Ethereum price dropped below $4,000 on Thursday and Friday, triggering approximately $250 million in daily ETF outflows. Technical breakdowns, macroeconomic concerns, and cascading liquidations contributed to the selling pressure.
The cryptocurrency rebounded slightly on Saturday, recovering above the $4,000 psychological level to trade around $4,020. However, Ethereum has remained down over 12% for the past 30 days, according to market data.
Spot Bitcoin ETFs also experienced significant outflows totaling $902.5 million for the same period. Friday alone saw $418.3 million in Bitcoin fund outflows, the highest single-day total since mid-August.
BlackRock's Bitcoin fund IBIT demonstrated relative resilience with only $37.3 million in Friday outflows compared to Fidelity's $300.4 million. The performance gap reflects BlackRock's growing market dominance in cryptocurrency investment products.
Five consecutive days of Ethereum ETF outflows coincide with weakening retail participation metrics. Net taker volume on major exchanges remained negative throughout the month, indicating persistent sell-side pressure.
Industry anticipation continues to build around SEC approval for ETF staking capabilities. Grayscale recently prepared to stake significant Ethereum holdings, potentially signaling regulatory confidence in yield-generating features.
ETF analyst James Seyffart maintains optimism about Bitcoin fund performance despite recent challenges. He emphasized the products represent "the biggest launch of all time" with unprecedented capital inflows since inception.