Ethereum ETF outflows exceed Bitcoin outflows by 92 million
Ethereum ETF outflows reached $320.1 million in net withdrawals for US spot funds in the week ending October 16, 2026. 1 million in net withdrawals for the week ending October 16, 2026. These Ethereum ETF outflows notably surpassed the $228.4 million in net outflows seen from US spot Bitcoin ETFs during the same period.
Investors actively reduced their exposure to both major cryptocurrencies amidst a challenging market.
The significant outflows from Ethereum products were largely driven by BlackRock’s iShares Ethereum Trust (ETHA), which alone accounted for nearly $299 million of the weekly total. This trend marks a third consecutive week of net withdrawals for Ethereum ETFs, highlighting a cautious sentiment among institutional and retail investors.
Analyzing Ethereum ETF outflows
The October 12–16 trading week proved particularly tough for Ethereum ETFs, with overall net withdrawals hitting $320.1 million. This compared to $228.4 million exiting Bitcoin ETFs, creating a difference of roughly $91.7 million, according to Farside Investors’ daily fund-flow records.
Ethereum products experienced negative flows on four of the five trading days. Monday saw $85.4 million in withdrawals, followed by a brief reprieve on Tuesday with $24.8 million in net purchases. However, Wednesday brought the week’s largest single-day removal of $129.5 million, continuing with $60.3 million on Thursday and $69.7 million on Friday.
Bitcoin ETFs followed a different, albeit still negative, pattern. They began the week with $65.4 million in withdrawals on Monday before attracting $175.7 million in fresh investments on Tuesday. Wednesday reversed this recovery sharply, with $261.4 million leaving Bitcoin products, marking their worst single session of the week.
Despite the larger individual daily movements in Bitcoin ETFs, the cumulative net withdrawals from Ethereum funds were heavier. Combined, both categories saw approximately $548.5 million in net withdrawals over the five trading days, underscoring a broad de-risking trend in the digital asset market.
BlackRock’s ETHA Dominates Ethereum Exits
A substantial portion of Ethereum’s weekly outflows stemmed from a single product: BlackRock’s iShares Ethereum Trust (ETHA). Farside’s fund-by-fund data showed ETHA experiencing approximately $299 million in net withdrawals between October 12 and October 16.
This amount represented about 93.4% of the entire Ethereum ETF category’s net weekly outflow. The concentration of withdrawals within ETHA indicates that a significant cohort of investors chose to exit this particular fund. Bitcoin exchange transfers also show periods of heightened activity.
ETHA has now endured 14 consecutive trading sessions without a single day of inflows, a streak that commenced on September 28. Since its last inflow day, the fund has shed $805.1 million. This recent weekly outflow alone accounted for roughly 3.5% of its net assets, which stood at $8.16 billion as of October 16.
While ETHA faced significant pressure, other Ethereum funds saw mixed activity. Fidelity’s FETH managed to end the week positively, attracting $10.5 million in net inflows. Grayscale’s Ethereum Mini Trust also saw $16.7 million in inflows on Tuesday but finished the week in negative territory due to withdrawals on other days.
Wider Fund Performance
For Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) also recorded substantial outflows, losing approximately $165.4 million over the same period. Fidelity’s FBTC contributed another $60.2 million in net outflows. However, not all funds suffered; Morgan Stanley’s MSBT managed to gain approximately $6.7 million, and BITB saw $2.2 million in inflows.
The fund-level breakdown clearly illustrates how withdrawals from a limited number of major products, particularly ETHA and IBIT, largely shaped the overall market results. This dynamic underscores the influence of large asset managers on the nascent crypto ETF landscape.
Crypto Prices Under Pressure Amid Withdrawals
The substantial fund outflows occurred simultaneously with a noticeable decline in the underlying cryptocurrency prices. On October 18, CoinGecko data showed Bitcoin trading near $81,238, having briefly dipped below $80,000 earlier in the week to a low near $79,800 before a slight rebound.
Ethereum also faced considerable downward pressure, with its price hovering around $2,386 on October 18. The token had approached the $2,300 mark during the week’s decline, reflecting the broader market unease. Bitcoin price dips have become a recurring theme, often linked to macroeconomic signals.
Macroeconomic factors appear to be playing a role in this market sentiment. The US inflation data, specifically the September consumer price index, came in higher than expected at 3.7% annual inflation. This data was released on Wednesday, coinciding with the largest single-day withdrawals for both Bitcoin and Ethereum ETFs.
While the timing suggests a correlation, it doesn’t definitively establish causation, meaning ETF redemptions alone may not have caused the price declines. The broader economic outlook and investor reaction to inflation figures likely contributed to the market’s defensive posture.
Ethereum’s Three-Week Losing Streak Continues
The October 12–16 period marked the third consecutive week of net withdrawals for US spot Ethereum ETFs. These products had previously lost approximately $542 million during the October 5–9 week, according to Farside’s records. While the latest withdrawals were smaller, they extend a concerning pattern for Ethereum-backed funds.
Across these three weeks ending October 16, total Ethereum ETF outflows reached roughly $1 billion. This sustained negative flow suggests that investor confidence in Ethereum ETFs has been waning since late September, with October-to-date losses approaching or even exceeding $900 million.
Contrasting Bitcoin Performance
Bitcoin ETFs, however, displayed a different trajectory over recent weeks. They recorded a significant $678.9 million in withdrawals during October 5–9, making the subsequent $228 million loss last week comparatively smaller. This indicates a potential easing of selling pressure on Bitcoin products.
Earlier in September, Bitcoin funds had demonstrated their capacity for substantial inflows, attracting nearly $2.4 billion during the week ending September 25. This historical volatility highlights how quickly fund flow dynamics can shift in the fast-paced cryptocurrency market.
Despite these recent outflows, the cumulative net inflows since launch remain positive for both asset classes. Bitcoin ETFs, launched in January 2024, have seen roughly $57 billion in net inflows. Ethereum ETFs, which debuted in July 2024, have accumulated over $12.9 billion in cumulative net inflows.
Broader Crypto ETF Market Snapshot
The challenges faced by Bitcoin and Ethereum ETFs were part of a wider trend across the cryptocurrency exchange-traded product landscape. A separate weekly ETF market report, published on October 17, indicated total net withdrawals of $610.7 million across five tracked crypto ETF categories.
Beyond Bitcoin and Ethereum, other assets also experienced significant outflows. Solana ETFs recorded $25.5 million in net outflows, while Zcash ETFs saw $19.2 million depart. Hyperliquid ETFs added another $17.5 million to the negative tally, bringing the combined losses for these smaller categories to $62.2 million.
This broader market context suggests a general investor retreat from crypto-backed investment vehicles during the week. The combined Bitcoin and Ethereum outflows, totaling $548.5 million, accounted for the vast majority of the $610.7 million figure across all tracked products.
While some funds, like Fidelity’s FETH and Morgan Stanley’s MSBT, managed to attract inflows, the overwhelming sentiment was one of caution and divestment. This period underscores the ongoing volatility and sensitivity of crypto-based investment products to market conditions and investor sentiment.
The sheer scale of assets under management in both Bitcoin ($104.29 billion) and Ethereum ($14.95 billion) ETFs suggests that while the recent outflows are notable, they represent a fraction of the total investment. For instance, ETHA’s weekly outflow, while substantial, was 3.5% of its net assets, meaning the vast majority of capital remains invested.
Analysts will be closely watching for signs of stabilization or reversal in these fund flows in the coming weeks. The performance of these ETFs often serves as a barometer for broader institutional interest and confidence in the cryptocurrency space. Any sustained shift could influence market dynamics significantly. Bitcoin economic scenarios continue to evolve, impacting investor decisions.