Bitcoin ETFs have seen outflows for seven straight days, totaling $1.9 billion—that's bad enough. Ethereum has it even worse: seven full weeks without a single week of net inflows.
U.S. spot $ETH ETFs saw another $398.9 million in net outflows last week, marking their seventh consecutive week of outflows. Since the end of September, cumulative outflows have reached about $2.42 billion. If next week is negative too, that would tie the longest outflow streak in the category's history: eight consecutive weeks. The previous two eight-week streaks included the most recent one, in early July this year.
The week's pattern was interesting too: Monday's $184.5 million outflow was the largest of the week, followed by $144.8 million on Wednesday and $70.6 million on Thursday. There were six consecutive trading days of outflows; it wasn't until Friday that $2.4 million came in. Fidelity's FETH alone took in $11.6 million, while Grayscale's Mini Trust saw $9.3 million in outflows, and BlackRock's ETHA had no flows that day. Outflows totaled $1.607 billion for October alone, making it the worst month since the funds launched in July 2024. BlackRock's ETHA accounted for more than 80% of the outflows in the heaviest weeks, with $1.42 billion flowing out of that fund alone in October.
The balance sheet makes it even more painful: ETH ETF net assets shrank 15.5% in a week, down to just $10.85 billion—their lowest level since August 18—and about $670 million below cumulative net inflows since launch. As for the coin price, ETH hit a Sunday low of $1,711, down about 22.5% for the week.
My take: Bitcoin ETFs are on a seven-day losing streak, while Ethereum ETFs are on a seven-week losing streak. Institutions' patience is measured in weeks, not a day or two. Friday's $2.4 million inflow was just a tourniquet, not a turnaround. To see a real reversal, we need two consecutive weeks of positive flows and ETHA to stop being the main source of outflows. Until then, this whale is staying crouched, waiting for institutional money to come back first.
U.S. spot $ETH ETFs saw another $398.9 million in net outflows last week, marking their seventh consecutive week of outflows. Since the end of September, cumulative outflows have reached about $2.42 billion. If next week is negative too, that would tie the longest outflow streak in the category's history: eight consecutive weeks. The previous two eight-week streaks included the most recent one, in early July this year.
The week's pattern was interesting too: Monday's $184.5 million outflow was the largest of the week, followed by $144.8 million on Wednesday and $70.6 million on Thursday. There were six consecutive trading days of outflows; it wasn't until Friday that $2.4 million came in. Fidelity's FETH alone took in $11.6 million, while Grayscale's Mini Trust saw $9.3 million in outflows, and BlackRock's ETHA had no flows that day. Outflows totaled $1.607 billion for October alone, making it the worst month since the funds launched in July 2024. BlackRock's ETHA accounted for more than 80% of the outflows in the heaviest weeks, with $1.42 billion flowing out of that fund alone in October.
The balance sheet makes it even more painful: ETH ETF net assets shrank 15.5% in a week, down to just $10.85 billion—their lowest level since August 18—and about $670 million below cumulative net inflows since launch. As for the coin price, ETH hit a Sunday low of $1,711, down about 22.5% for the week.
My take: Bitcoin ETFs are on a seven-day losing streak, while Ethereum ETFs are on a seven-week losing streak. Institutions' patience is measured in weeks, not a day or two. Friday's $2.4 million inflow was just a tourniquet, not a turnaround. To see a real reversal, we need two consecutive weeks of positive flows and ETHA to stop being the main source of outflows. Until then, this whale is staying crouched, waiting for institutional money to come back first.
