Key Takeaways
- • US spot Ether ETFs recorded net outflows of roughly $320 million during the week of October 12-16, 2026, exceeding Bitcoin ETF outflows of $228.4 million over the same period.
- • BlackRock's iShares Ethereum Trust (ETHA) accounted for $299 million, or about 93% of the weekly Ether outflow, and has gone 14 consecutive trading sessions without an inflow.
- • The two-week Ether outflow total of $862.3 million (October 5-16) equals roughly 28% of the $3.1 billion the category attracted in Q3 2026.
- • Fidelity's FETH was the only Ether fund with net inflows that week, gaining $10.5 million.
- • ETF redemptions may be settled in-kind, so the $299 million outflow does not necessarily represent equivalent ether selling on the spot market.
Summary
US spot Ether exchange-traded funds posted net outflows of roughly $320 million during the week of October 12-16, marking the second consecutive week of withdrawals, according to figures based on Farside Investors data. The outflows reversed more than a quarter of the inflows the category attracted during the third quarter. The weekly Ether figure outpaced Bitcoin spot ETF outflows of $228.4 million for the same period, though the shift was driven more by a sharper easing in Bitcoin redemptions than by a deterioration in Ether demand. Bitcoin's weekly outflow fell 66% week over week, while Ether's declined 41%.
The redemptions were concentrated in a single product. BlackRock's ETHA shed $299 million over the five sessions, and has lost $805.1 million since its last positive day on September 28. Based on net assets of approximately $8.16 billion reported on October 16, the weekly withdrawal equals roughly 3.5% of the fund's size before price effects. The same issuer accounted for $477.1 million, or 88%, of the $542.2 million pulled from Ether funds in the prior week of October 5-9. Grayscale's ETHE and its lower-fee ETH product lost a combined $30.7 million, while Franklin's EZET recorded a $900,000 outflow. Fidelity's FETH gained $10.5 million.
Daily flows were volatile. Tuesday, October 13, was the strongest session for both categories, with $24.8 million entering Ether funds and $175.7 million entering Bitcoin products. The following day reversed course, with Ether ETFs losing $129.5 million and Bitcoin ETFs shedding $261.4 million. Within Bitcoin, outflow leadership rotated between BlackRock's IBIT and Fidelity's FBTC across the two weeks, while in Ethereum the same fund led redemptions in both periods.
Analysts note that ETF outflows do not map directly to selling pressure on ether. Under the mechanics described in ETHA's SEC-filed prospectus, authorized participants can redeem shares for cash or ether, and in-kind redemptions transfer ether directly rather than selling it on the open market. Flow data also does not reveal who redeemed or why. Market participants are watching whether ETHA breaks its 14-session outflow streak and whether withdrawals broaden beyond the BlackRock product.
On the price side, Ether traded near $2,455 after losing momentum from a late-September attempt to breach $2,800, with support cited between $2,310 and $2,355. Uniswap was at $7.39, roughly 30% below its September peak of $10.90, and Dogecoin at $0.0816 with $0.0800 identified as a near-term level. The publisher characterizes the outflows as a signal of caution rather than a structural reassessment of crypto, noting that weekly flow swings are common.
The redemptions were concentrated in a single product. BlackRock's ETHA shed $299 million over the five sessions, and has lost $805.1 million since its last positive day on September 28. Based on net assets of approximately $8.16 billion reported on October 16, the weekly withdrawal equals roughly 3.5% of the fund's size before price effects. The same issuer accounted for $477.1 million, or 88%, of the $542.2 million pulled from Ether funds in the prior week of October 5-9. Grayscale's ETHE and its lower-fee ETH product lost a combined $30.7 million, while Franklin's EZET recorded a $900,000 outflow. Fidelity's FETH gained $10.5 million.
Daily flows were volatile. Tuesday, October 13, was the strongest session for both categories, with $24.8 million entering Ether funds and $175.7 million entering Bitcoin products. The following day reversed course, with Ether ETFs losing $129.5 million and Bitcoin ETFs shedding $261.4 million. Within Bitcoin, outflow leadership rotated between BlackRock's IBIT and Fidelity's FBTC across the two weeks, while in Ethereum the same fund led redemptions in both periods.
Analysts note that ETF outflows do not map directly to selling pressure on ether. Under the mechanics described in ETHA's SEC-filed prospectus, authorized participants can redeem shares for cash or ether, and in-kind redemptions transfer ether directly rather than selling it on the open market. Flow data also does not reveal who redeemed or why. Market participants are watching whether ETHA breaks its 14-session outflow streak and whether withdrawals broaden beyond the BlackRock product.
On the price side, Ether traded near $2,455 after losing momentum from a late-September attempt to breach $2,800, with support cited between $2,310 and $2,355. Uniswap was at $7.39, roughly 30% below its September peak of $10.90, and Dogecoin at $0.0816 with $0.0800 identified as a near-term level. The publisher characterizes the outflows as a signal of caution rather than a structural reassessment of crypto, noting that weekly flow swings are common.
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