Ether ETF outflow streak reaches five weeks with $432 million exit

Institutional demand for ether exposure is still heading for the exit. The ether ETF outflow streak reaches five weeks as U.S. spot funds posted $432 million of net redemptions over the five sessions from October 26 to October 30, according to SoSoValue figures cited by PANews.

What happened

BlackRock's iShares Ethereum Trust, ETHA, accounted for most of the exit, with $391 million of weekly outflows, PANews reported. Grayscale's older ETHE lost about $37 million. Fidelity's FETH bucked the trend with roughly $63 million of inflows.

Total net assets of the spot ether funds stood at $13.22 billion, equal to 4.83% of ether's market value, and cumulative net inflows since launch were $12.29 billion, PANews said. TokenPost's daily tally put the five-day total at $431.4 million, with October 30 alone accounting for $155.7 million, and cumulative flows at $12.316 billion.

Bitcoin funds fared better. Bloomingbit, citing Wu Blockchain, reported $203 million of net outflows from U.S. spot bitcoin ETFs over the same week, with Fidelity's FBTC responsible for $166 million, about 82% of the total. Combined, the two groups lost $635 million, and ether made up about 68% of that.

Why it matters

Ether's share of the selling is disproportionate. The spot ether funds are far smaller than the bitcoin products, yet they lost more than twice as much money last week, TokenPost noted. That suggests investors are cutting the more volatile asset first while the market digests the Binance theft and a tech-stock selloff.

The pattern is not new. Our Ethereum and Solana ETF outflows report tracked the start of the October bleed, and the latest week extends it. Bitcoin funds had their own heavy day on October 30, which our IBIT FBTC outflows story covered, though weekly totals there were softened by earlier inflows.

The Fidelity split is worth noting. FETH took in money while FBTC led the bitcoin redemptions, showing that flows within a single issuer can move in opposite directions as advisers rebalance between products.

Cumulative flows remain positive, so the funds still hold far more than they have lost. A five-week run, though, is long enough to weigh on sentiment around ether's price.

The ether ETF outflow streak also needs to be read against the funds' longer record. Cumulative net inflows of about $12.3 billion since launch show that most earlier money has stayed, and total assets of $13.22 billion still equal 4.83% of ether's market value, PANews said. Weekly redemptions of $432 million are meaningful but not a wholesale exit. The split between issuers matters too: Fidelity's FETH took in money while BlackRock's ETHA shed $391 million, which points to some rotation between products as well as outright selling.

What's next

The next data point arrives with Monday's U.S. session. PANews' weekly flow summary lists fund-by-fund figures for the week.

If the ether ETF outflow streak reaches six weeks, it would line up with ether trading near two-month lows; a turn back to inflows after the midterms and the jobs report would be the first sign that allocators see value again.

Watch ETHA in particular, since BlackRock's fund has set the direction for the group throughout October.