Ethereum Spot ETF Volatility Persists as BlackRock BUIDL Grows

Ethereum spot ETFs have seen significant volatility in September, with massive swings in net inflows and outflows. On September 11, Ethereum spot ETFs pulled in $216.4 million in net inflows, led by BlackRock's ETHA with $149 million, accounting for almost 70% of the total inflows that day.

However, this market momentum was short-lived, as on September 17, U.S. spot Ethereum ETFs recorded net outflows of $39.3 million, following net outflows of $142 million on September 15 and $224.1 million on September 16, totaling $405.4 million in cumulative outflows.

BlackRock's ETHA led those September 17 outflows with $42.9 million, while spot Bitcoin ETFs saw $159.5 million in net inflows during the same session.

The sudden exit of capital from BlackRock's main Ethereum product is jarring, particularly given Ethereum's volatility in the current period, which follows a massive 40.5% price surge in July.