BlackRock Ethereum ETF registers $477 million in weekly net outflows
Heavy withdrawals from BlackRock's iShares Ethereum Trust drove the majority of weekly redemptions across US spot Ethereum funds as prices corrected.
BlackRock’s iShares Ethereum Trust recorded $477.1 million in net outflows over five trading sessions ending October 9, representing the bulk of the $542.2 million pulled from all United States spot Ethereum exchange-traded funds during the week. The fund's daily redemptions peaked at $201.9 million on October 6 before tapering to $56.1 million on October 9.
The persistent withdrawals extended the Ethereum ETF sector's losing streak to nine consecutive sessions, pushing cumulative net outflows since late September close to $700 million. Despite the weekly drawdown, total cumulative inflows into US spot Ethereum funds have remained positive at approximately $13.3 billion since their debut in July 2024.
The fund outflows coincided with a 9.2 percent drop in Ethereum’s spot price, which declined from roughly $2,725 on October 5 to $2,474 on October 9 amid broader macroeconomic pressures from rising Treasury yields and a stronger dollar. In contrast to its Ethereum product, BlackRock’s spot Bitcoin ETF saw modest net inflows of about $1.1 million over the same five-day timeframe.
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