Ethereum ETF Outflows Surge Amid Price Volatility
on September 5, Ethereum spot ETFs saw meaningful withdrawals amounting to $446.71 million. This substantial outflow ranks as the second-highest since theETFs first appeared.
Key Players: BlackRock led the charge, shedding $309.9 million in holdings. Grayscale and Fidelity also saw notable decreases.
The price of Ethereum hovered around $4,300 during this period, down from its earlier peak of $4,900. This drop triggered a wave of profit-taking.
- Largest outflow happened on August 4, with $465.06 million withdrawn.
- Cumulative net inflows dropped to $12.73 billion, the lowest since late August.
- Full weekly data shows a total outflow of $787.74 million, wiping out the prior week’s gains.
BlackRock’s ETHA fund, listed on NASDAQ, suffered the biggest hit—$309.88 million outflow. It still held a slight premium of 0.25%. Other major players like Grayscale and Fidelity reported losses of $51.77 million and $37.77 million, respectively.
Despite the general downward trend, some funds like 21Shares’ TETH showed minimal withdrawals.
Ethereum’s volatile trading patterns align with these outflows. While the coin soared by 80% annually, recent fluctuations likely influenced investor decisions.The total assets under management fell to $27.64 billion on September 5, further indicating caution among holders.
