BlackRock Ethereum Fund Sees $202M Outflow in Six-Day Withdrawal Streak

BlackRock’s spot Ethereum fund saw a significant outflow of $201.89 million on October 6, 2026, marking the sixth consecutive day of withdrawals from the sector. The entire $202 million net outflow from US spot Ethereum ETFs that day came from clients of BlackRock’s iShares Ethereum Trust (ticker: ETHA), the fund responsible for the largest single-fund redemption in the category.

This isn’t ETHA’s first notable withdrawal this fall. The fund previously recorded around $110 million in client redemptions on September 16, 2026, during a broader sector outflow of $224 million. That earlier episode occurred following a Federal Reserve rate hike. Despite these outflows, cumulative net inflows into US spot Ethereum ETFs since their July 2024 launch remain positive at $13.549 billion.

While Ethereum funds faced outflows, Bitcoin ETFs saw concurrent inflows, suggesting a rotation of crypto exposure rather than a complete retreat from the market. BlackRock’s Bitcoin ETF, IBIT, has experienced both inflows and outflows, indicating a shift in investor preferences. Additionally, BlackRock’s staking-enabled Ethereum product, ETHB, has also faced outflows, highlighting that yield features alone may not retain capital during sentiment shifts.

The concentration of net inflows in ETHA presents a structural risk for the sector. With ETHA accounting for the majority of net money entering these funds, its performance heavily influences the entire category. Sustained ETF outflows could add selling pressure to Ethereum’s spot price, though the current outflows are not yet existential for the market.