CMC News

$ETH ETFs Record Worst Week With $796M Outflows

Spot $ETH exchange-traded funds posted their largest weekly outflows since inception as #cryptocurrency prices declined across markets. The funds lost $795.6 million during the week ending Sept. 26, surpassing previous record outflows.

#BlackRock's industry-leading ETHA fund saw over $200 million in outflows while maintaining $15.2 billion in assets under management. Fidelity's FETH experienced larger relative losses with $362 million in weekly outflows.

$ETH price dropped below $4,000 on Thursday and Friday, triggering approximately $250 million in daily #ETF outflows. Technical breakdowns, macroeconomic concerns, and cascading liquidations contributed to the selling pressure.

The cryptocurrency rebounded slightly on Saturday, recovering above the $4,000 psychological level to trade around $4,020. However, $ETH has remained down over 12% for the past 30 days according to market data.

Spot $BTC ETFs also experienced significant outflows totaling $902.5 million for the same period. Friday alone saw $418.3 million in Bitcoin fund outflows, the highest single-day total since mid-August.

BlackRock's Bitcoin fund IBIT demonstrated relative resilience with only $37.3 million in Friday outflows compared to Fidelity's $300.4 million. The performance gap reflects BlackRock's growing market dominance in cryptocurrency investment products.

Five consecutive days of #EthereumETF outflows coincide with weakening retail participation metrics. Net taker volume on major exchanges remained negative throughout the month, indicating persistent sell-side pressure.

Industry anticipation continues to build around SEC approval for ETF #staking capabilities. Grayscale recently prepared to stake significant Ethereum holdings, potentially signaling regulatory confidence in yield-generating features.

ETF analyst James Seyffart maintains optimism about Bitcoin fund performance despite recent challenges.