Ethereum ETFs See $118 Million in Outflows After Strong Week

The Ethereum ETFs experienced a sudden shift in investor demand, with outflows of $118 million over three consecutive trading days. This reversal came after a strong week, where the funds attracted $690 million in investments. The iShares Ethereum Trust ETF (ETHA) and Fidelity Ethereum Fund (FETH) led the influx with $326 million and $174 million, respectively.

The outflows began on September 29, with a withdrawal of $3 million, followed by $60 million on September 30, and $55 million on October 1. This trend continued even after the quarter-end rebalancing, which typically leads to selling. The quarter-end selling may have contributed to the outflows, as investors trimmed their holdings in Ethereum, which had gained 57% in the third quarter.

The disparity in investor demand between Ethereum and Bitcoin funds is notable. Bitcoin funds attracted $103 million on October 1, while Ethereum funds experienced net outflows of $101 million. This suggests that investors are specifically moving money out of Ethereum funds, rather than withdrawing from cryptocurrency funds overall.