Ether ETFs shed $2.35 billion over seven weeks as investors trim exposure
US spot Ether funds have seen $2.35 billion in outflows over seven weeks, with BlackRock's ETHA accounting for 85-90% of withdrawals during peak weeks.
The outflows represent one of the roughest stretches for Ether ETFs since their launch in July 2024. October saw the most damage with $1.607 billion in net outflows, followed by continued selling in November with nearly $700 million withdrawn in just the first 11-12 days of the month.
Persistent selling
The selling has been particularly persistent, with Ether ETFs logging nine consecutive days of outflows and a 23-day run during October. This contrasts with Bitcoin ETFs, which saw more mixed trading with inflows and outflows over the same period.
The more telling detail is how lopsided the selling has been. Holders cut their Ether exposure more sharply than their Bitcoin exposure, which suggests the move is a vote on Ether specifically rather than a broad exit from crypto funds.
BlackRock dominates redemptions
BlackRock's iShares Ethereum Trust (ETHA) has been at the center of the outflows, accounting for 85-90% of withdrawals during the heaviest weeks. ETHA alone saw $1.42 billion pulled in October, representing most of that month's record total.
Fidelity's FETH bucked the trend, recording modest inflows in October while the broader category was hemorrhaging capital. The outflows reversed positive inflows seen in August and September, though Ether itself has remained in a $2,000-$2,400 range during this period.
Context on totals
Despite the seven weeks of withdrawals, cumulative net inflows since the July 2024 launch still stood at approximately $11.59 billion as of mid-November 2026. This distinction between lifetime inflows and current net assets is important for understanding the overall market position.
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