Ethereum exchange-traded funds experienced substantial outflows totaling $465 million in a single trading session this week. BlackRock’s Ethereum Trust (ETHA) led the withdrawals, shedding $375 million, while Fidelity’s Ethereum Fund (FETH) recorded $55.1 million in outflows.
Bitcoin ETFs mirrored this negative trend, witnessing $333 million in outflows during the same period as institutional investors adjusted positions.
The withdrawals contrast with Ethereum’s price resilience, which gained 4% over the preceding 24-hour period. This divergence highlights potential decoupling between ETF flows and spot market performance.
July had marked a strong inflow period for Ethereum ETFs with $5.4 billion entering the funds. However, this positive momentum reversed at the beginning of August with consecutive days of outflows.
Market analysts note heightened ETF flow volatility, with rapid oscillations between inflows and outflows reflecting shifting institutional strategies in the cryptocurrency space.