US spot Ether ETFs shed $320M in a week, outpacing Bitcoin fund outflows
In brief
- Spot Ether ETFs saw about $320 million in net outflows in the week ending October 16.
- Spot Bitcoin ETFs lost roughly $228 million over the same week, per Crypto Briefing.
- BlackRock's ETHA accounted for most of the Ether fund redemptions.
- Ether ETFs have seen steady outflows since late September.
Two days did most of the damage
The Ether outflows weren't spread evenly across the week. Ether ETFs recorded about $129.5 million in net outflows on October 14, and another $69.7 million left on October 16, based on Crypto Briefing's figures.
ETHA took most of that. The BlackRock fund has reportedly accounted for 80% or more of total Ether ETF redemptions in recent weeks (a pattern the publication says keeps repeating).
Bitcoin funds had a much quieter week.
Withdrawals from spot Bitcoin ETFs slowed by 66% compared with the prior week, according to The Defiant as cited by Crypto Briefing, and Bitcoin funds even logged a small inflow on one day during the period.
A streak that started in September
Ether ETFs have seen outflows consistently since late September. At one point the run stretched to nine consecutive days of redemptions. October-to-date losses for Ether funds have been reported to approach or exceed $900 million, though those estimates aren't tied to a named data provider.
That's a sharp turn from last month. September brought strong inflows into crypto ETFs, with Bitcoin products in particular pulling in fresh capital.
For scale, spot Ether ETFs launched in the US in July 2024 and have collected cumulative net inflows of more than $12.9 billion since then. Total assets under management across the category have been reported in a range between $14.5 billion and $15.3 billion.
What's weighing on Ether?
Crypto Briefing points to two forces: Ether's recent underperformance against Bitcoin, and rising Treasury yields. Its read is that the gap between the two fund categories doesn't look like investors leaving crypto wholesale. Instead, in the publication's analysis, some appear to be trimming the more volatile asset first.
The publication also flagged what it's watching. Because ETHA so often accounts for the bulk of redemptions, Crypto Briefing said a shift in its daily flows would likely be the first visible sign that the trend is reversing.
Frequently asked questions
Why are investors pulling money from Ether ETFs?
Crypto Briefing pointed to Ether's recent underperformance against Bitcoin and rising Treasury yields as the two forces weighing on sentiment. In its analysis, the gap between Ether and Bitcoin fund flows suggests some investors are trimming the more volatile asset first instead of leaving crypto entirely.
How much have US spot Ether ETFs taken in since launch?
Spot Ether ETFs launched in the US in July 2024 and have collected cumulative net inflows of more than $12.9 billion since then, according to Crypto Briefing. Total assets under management across the category have been reported at between $14.5 billion and $15.3 billion.
