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Spot ethereum ETFs’ outflows on pace for highest ever

After 14 weeks of positive inflows, the funds have seen $626.3 million in outflows this week.

Sage D. Young

Spot ethereum ETFs have had 14 consecutive weeks of inflows, accounting for nearly 84.7% of the investment vehicles’ cumulative inflows of more than $12 billion. However, this week’s outflows are putting the streak in jeopardy, with roughly $626.3 million leaving the funds so far this week.

This is the highest level since they went live last year, data from SoSoValue shows.

On Tuesday alone, the Fidelity Ethereum Trust recorded $156 million in outflows, leading the pack, while the Grayscale Ethereum Trust took second place, notching $122 million in outflows. 

The price of ethereum has dropped almost 9% in the past seven days. Meanwhile, trading volume has decreased as well. Its 24-hour trading volume is $41 billion, while a week ago it saw $53 billion, according to CoinGecko

The ETF outflows and price slump comes as BitMine Immersion Technologies, the treasury firm holding the most ethereum, overtook bitcoin behemoth Strategy in terms of weekly trading volume for the first time. Between August 11 and 17, BitMine generated $32 billion in trading volume, compared to Strategy’s $22.7 billion in the same period, per Blockworks Research.

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Ethereum falls below a critical level

The last time ethereum was below $3,000 was in July 2025, after a number of corporate firms had begun to roll out their ethereum treasury strategies.

$1T

Painvember is real — the crypto market has lost more than $1 trillion in overall market cap since early October and now sits at $3.2 trillion, down from $4.3 trillion on October 6, when bitcoin hit its all-time high.

Bitcoin dipped below $90,000 for the first time since April late Monday night. The asset is roughly flat from one year ago, shortly after the US presidential election.

“The longer bitcoin stays under $100k, the more the sense of imminent doom intensifies. But amid all this panic, there are reasons to be optimistic. We’ve seen BTC ETF ownership jump from 20% to 28% this year, institutional demand remains high, and the biggest Bitcoin whale — Michael Saylor — has just scooped up more BTC,” Nic Puckrin, cofounder of Coin Bureau, told Sherwood News.

  • The Bitcoin Fear and Greed Index is now at 11, reflecting “extreme fear.”

  • Bitcoin ETFs saw $254.51 million in outflows on Monday, bringing total outflows to $2.59 billion in November. BlackRock’s iShares Bitcoin Trust, the most successful bitcoin ETF, saw a whopping $1.26 billion exit its fund so far this month.

  • Meanwhile, ethereum ETFs suffered $182.8 million in outflows — $1.42 billion so far this month, according to SoSoValue.

  • Crypto liquidations reached $801 million in the past 24 hours, Coinglass data shows. Bitcoin suffered $433 million in liquidations, with the bulk of them — $390.89 million — in long positions.

“Bitcoin and crypto are trading much more like classic risk assets right now. Everything is moving with broader risk sentiment and growing anxiety around credit,” Greg Magadini, director of derivatives at Amberdata, told Sherwood.

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