Ethereum ETFs Suffer Record Outflows Amid Fed Rate Hike

The US spot Ethereum ETFs saw significant outflows on September 16, totaling $224 million. This came after the Federal Reserve's first interest rate hike in three years.

BlackRock's iShares Ethereum Trust (ETHA) led the withdrawals with a single-fund redemption of $110.03 million. Fidelity's FETH followed closely behind with outflows of $55.58 million, while BlackRock's staking-enabled ETHB lost another $19.76 million.

The combined Ethereum ETF net outflows reached $224 million on that day. This comes amidst regulatory ambiguities unresolved for Ethereum and the broader cryptocurrency sector after the Senate failed to advance the Digital Asset Market CLARITY Act by a narrow margin on September 15.