Ether ETFs post their worst week since January

Ether-backed spot ETFs saw $542.1 million in net outflows last week. This is their worst weekly record since January. The trend also continues on Solana, whose ETFs have just ended fourteen consecutive weeks of net inflows.

Nine consecutive outing sessions

The turnaround occurred at the end of September. On the 28th, Ether ETFs still attracted $17.1 million. The next day, investors changed course. This development coincides with the end of the nine-day streak of Bitcoin fund inflows.

Since September 29, withdrawals have reached $697.2 million in nine sessions. Last week alone saw 542.1 million net exits. We have to go back to the week ending January 23, marked by $611.2 million in withdrawals, to find such a negative balance sheet (SoSoValue data). Tuesday had a particularly strong impact on this result, with $201.9 million in outflows.

This series is now among the longest since the launch of spot Ether ETFs. It equals that observed from June 17 to 30. The record, however, remains seventeen consecutive sessions, between May 11 and June 3, for a total of $900.1 million withdrawn.

BlackRock concentrates the majority of withdrawals

Not all funds are under the same pressure. ETHA, the product of BlackRock, saw $477 million in outflows over the week, or about 88% of the total. This is its worst weekly report since mid-December 2025 and the third worst since its launch in July 2024.

The fund lost capital during the five sessions. On Tuesday, withdrawals reached $201.9 million, its worst daily result since January 21. For comparison, ETHE, Grayscale’s fund, saw $31.9 million in outflows.

ETHA now manages $8.64 billion in net assets, compared to $12.79 billion in cumulative inflows since its inception. The gap therefore reaches $4.15 billion. At the same time, the outstanding amounts of all Ether ETFs fell by 10% over the week, to $15.71 billion. Cumulative net inflows since January also fell to 931.8 million, from 1.47 billion a week earlier.

The trading volume, however, increased to $5.18 billion. This pressure on Ether ETFs is part of a broader movement, since Bitcoin funds have also recorded significant outflows.

Solana ETFs lose momentum

Solana is no exception to this trend. Its ETFs recorded outflows in all five sessions of the week, a first series of this length since their launch. In total, they lost $24.8 million, almost three times their previous weekly release record, set at 8.9 million in early February (SoSoValue data).

Bitwise’s BSOL fund accounts for most of these withdrawals, with $20.9 million, or 84% of the total. This development also ends fourteen consecutive weeks of net inflows, the longest streak since the arrival of these products in October 2025.

The turnaround comes two weeks after a peak of $188.2 million in weekly admissions. At the same time, outstandings fell to $1.73 billion, compared to a record of $1.96 billion reached on September 25. In total, Bitcoin, Ether and Solana ETFs lost around $1.25 billion last week.