Ethereum ETFs Lose $320 Million In A Week As Bitcoin Outflows Slow
TL;DR: US spot Ethereum ETFs lost $320.1 million in the week ending October 16, more than the $228.4 million withdrawn from Bitcoin funds. BlackRock’s ETHA accounted for nearly all of the Ether redemptions. Ethereum investment funds have ended another difficult week on the wrong side of the ledger. US spot Ether ETFs recorded $320.1 million in net withdrawals between October 12 and 16, while comparable Bitcoin products lost $228.4 million, according to Farside Investors. The difference is striking, but it needs some context. Ether funds were not suffering their worst week on record. They lost roughly $542 million in the preceding five sessions. What changed most visibly this week was the pace of Bitcoin redemptions, which slowed enough to put Ethereum ahead in the outflow rankings. BlackRock’s iShares Ethereum Trust, ETHA, did most of the damage. Its five-day net loss was approximately $299 million, almost 93% of the total across US spot Ether funds. Monday started with an $85.4 million industry-wide withdrawal; a $24.8 million inflow on Tuesday offered a brief reprieve, before selling returned on Wednesday, Thursday and Friday. Fidelity’s FETH managed modest positive flows during the week, underlining that investors were not treating every issuer alike. ETF flow figures reflect creations and redemptions of fund shares, not a direct measure of all demand for ETH. Still, the concentration of withdrawals in the market’s largest Ether product raises an uncomfortable question: if institutional appetite returns, will it return to Ethereum as quickly as it does to Bitcoin?
Key Takeaways
- TL;DR: US spot Ethereum ETFs lost $320.1 million in the week ending October 16, more than the $228.4 million withdrawn from Bitcoin funds.
- BlackRock’s ETHA accounted for nearly all of the Ether redemptions.
- Ethereum investment funds have ended another difficult week on the wrong side of the ledger.
Summary generated by IndiCrypto from NewsBTC. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Web3
BitTorrent Ushers in Next-Gen Web3 Infrastructure with Strategic Rebrand and Inaugural BTT Burn
Overview: The first round of BTT repurchased with decentralized service revenue has been completely burned, as BitTorrent leverages its reimagined architecture to pivot toward Web3 and AI infrastructure. BitTorrent, a cornerstone of decentralized…
Cysic crypto bridge halted after unauthorized mint of 10M CYS
Cysic said the incident was limited to bridge message processing and minting and did not affect the mainnet or other operational systems.
XRP Price Battles $1.30 as $2.77B Futures Market Loses Momentum
XRP’s price is fighting to hold $1.29 as its $2.77 billion futures market loses momentum and sellers maintain control. Technical indicators favor further weakness, yet oversold readings suggest a recovery isn’t entirely off the table. Meanwhile, Polymarket…