The Fidelity Ethereum Fund (FETH) experienced the largest outflows at over $362 million, followed by BlackRock’s ETHA fund, with more than $200 million exiting.
Ethereum traded at $3,990.17, down 0.58% on the day and 10.78% over the past week, reflecting short-term market volatility.
Ethereum [ETH] has been making headlines recently, not just for its price movements, but also due to heightened network activity that has drawn investor attention.
Yet, despite the buzz, spot Ethereum ETFs faced a historic drain last week, recording their largest weekly outflows on record.
Data from Farside Investors shows that for the week ending the 26th of September, these ETFs saw $795.6 million in outflows amid a trading volume surpassing $10 billion.
The ETFs just edged out the previous notable week of the 5th of September, which saw $787.7 million exit the funds.
BlackRock’s industry-leading ETHA fund saw more than $200 million exit, even though the fund still manages over $15.2 billion in assets.
Meanwhile, the Fidelity Ethereum Fund (FETH), the third-largest Ethereum ETF by assets under management, experienced the largest outflows among its peers, with over $362 million pulled during the same period.
Grayscale’s ETHE also reported notable withdrawals, highlighting a broader trend of investor caution in the Ethereum market.
The outflows coincided with Ethereum’s price slipping below the $4,000 mark, trading at $3,990.17, down 0.58% on the day and 10.78% over the past week, according to CoinMarketCap.
The retreat in ETF flows mirrors the wider market sentiment, as investors appeared to pull back amid short-term volatility.
Weekly outflows across available Bitcoin [BTC] ETFs totaled $902.5 million, with Fidelity’s FBTC leading the pack in withdrawals.
Bitcoin itself traded at $109,352.01, reflecting a modest daily decline of 0.02% and a 5.53% drop over the week, according to CoinMarketCap.
This coincided with the SEC has postponing decisions on multiple crypto ETF and staking applications, pushing review deadlines into late October and mid-November.
Major issuers, including BlackRock, Franklin Templeton, Fidelity, 21Shares, and Grayscale, are among those affected.
