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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.

8/20/25 10:24AM

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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Trump-connected WLFI token jumps to 3-month high on news of banking application

World Liberty Financial’s token, WLFI, is the top cryptocurrency gainer in the last 24 hours, peaking at a three-month high of 18.5 cents after the Donald Trump-backed crypto firm announced that a proposed entity has applied for a US banking charter.

According to a press release, World Liberty Trust Company filed a de novo application with the Office of the Comptroller of the Currency, a branch of the US Treasury Department tasked with supervising and regulating national banks.

With a national trust bank charter, World Liberty Trust can issue USD1, the dollar-backed stablecoin rolled out by World Liberty Financial last year. The trust company also plans to offer digital asset custody and stablecoin conversion services.

Even though World Liberty Financial and World Liberty Trust Company share similar branding and names, the ownership and operating structures are different, a statement provided to CoinDesk explained. President Trump is labeled as World Liberty Financial’s cofounder emeritus, while his three sons, Eric, Donald Jr., and Barron, are cited as cofounders.

The Office of the Comptroller of the Currency under the Trump administration has already approved bank charter applications from several firms, including Circle Internet Group, Ripple, and BitGo, which maintains all reserve assets backing USD1.

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Zcash drops after the entire team of Electric Coin Company, a core development firm behind the token, leaves

Zcash, the privacy-focused cryptocurrency, has shed roughly $1.2 billion of its market capitalization in the last 24 hours, with the token dropping 15% after the developers of Electric Coin Company left to start a new company, though they remain focused on the same mission.

Electric Coin Company was formed in 2015 to jumpstart the privacy-focused zcash protocol, but on Wednesday, the entire team left due to a governance conflict with several board members of Bootstrap, the 501(c)(3) nonprofit aimed at governing Electric Coin Company and supporting the blockchain network, according to Josh Swihart, former Electric Coin Company CEO.

Bootstrap board members Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai “have moved into clear misalignment with the mission of Zcash,” Swihart wrote in a social media post. “In short, the terms of our employment were changed in ways that made it impossible for us to perform our duties effectively and with integrity.”

Despite the move, Swihart said the protocol is unaffected. The former Electric Coin Company team is now founding a new company to protect their work from “malicious governance actions” and remain committed to “building unstoppable private money.”

Last year, the cryptocurrency’s price saw explosive growth, jumping nearly 780% from under $60 in January to over $510.

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Spot ethereum ETFs’ outflows on pace for highest ever

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