Bitwise Ethereum ETF Sees Record Outflow Amid Bullish Ether Technicals

The Bitwise Ethereum ETF, ETHW, experienced a significant outflow of $34.4 million on September 16, marking one of its largest single-day redemptions since launch.

This represents roughly 12.9% of the fund's capital base and signals that investors are taking profits or reducing risk in Ethereum-linked funds.

The related asset, ETH-USD, has rallied about 50.8% over the past three months, trading at $2,579.99 as of now.

Despite this outflow, Ether's near-term technicals remain bullish, with a Strong Buy signal flashing, suggesting traders still see upside in the underlying token.