Ether ETFs Post Their Worst Week Since January

Spot ETFs backed by ether recorded $542.1 million in net outflows last week. This is their worst weekly performance since January. The trend is also continuing on Solana, whose ETFs have just ended fourteen consecutive weeks of net inflows.

Nine consecutive sessions of outflows

The reversal occurred at the end of September. On the 28th, Ether ETFs were still attracting $17.1 million. The very next day, investors changed course. This shift coincides with the end of the nine-day inflow streak of Bitcoin funds.

Since September 29, withdrawals have reached $697.2 million over nine sessions. Last week alone concentrated $542.1 million in net outflows. You have to go back to the week ended January 23, marked by $611.2 million in withdrawals, to find such a negative record (SoSoValue data). Tuesday was particularly heavy in this result, with $201.9 million in outflows.

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 The record remains seventeen consecutive sessions, between May 11 and June 3, totaling $900.1 million withdrawn.

BlackRock concentrates the bulk of withdrawals

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

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

ETHA now manages $8.64 billion in net assets, compared to $12.79 billion cumulative inflows since its creation. Thus, the gap reaches $4.15 billion. Meanwhile, the total assets under management of all Ether ETFs declined by 10% over the week to $15.71 billion. Cumulative net inflows since January also dropped to $931.8 million, versus $1.47 billion a week earlier.

Trading volume, however, rose to $5.18 billion. This pressure on Ether ETFs is part of a larger move, as Bitcoin funds also recorded significant outflows.

Solana ETFs lose their momentum

Solana is not exempt from this trend. Its ETFs recorded outflows during all five sessions of the week, a first streak of this length since their launch. In total, they lost $24.8 million, nearly three times their previous weekly outflow record, set at $8.9 million in early February (SoSoValue data).

Bitwise’s BSOL fund accounts for the bulk 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 these products arrived in October 2025.

The reversal comes two weeks after a peak of $188.2 million of weekly inflows. At the same time, assets under management fell back to $1.73 billion, compared to a record of $1.96 billion reached on September 25. In total, the Bitcoin, Ether, and Solana ETFs lost about $1.25 billion last week.