Lead
U.S. spot Ethereum ETFs posted a net outflow of $504 million in the latest reported week (Year 2, Week 46), even as aggregate trading volume reached $12 billion. BlackRock recorded the largest weekly withdrawal at $562 million, while Grayscale and Bitwise saw modest inflows of $49 million and $14 million, respectively. The most traded price for Ether during the week was $2,741.
Key Developments
- Net weekly flow: -$504 million
- Aggregate volume: $12 billion
- Most traded ETH price: $2,741
- Issuer flows:
- BlackRock: -$562 million outflow, the week’s largest withdrawal
- Grayscale: +$49 million inflow
- Bitwise: +$14 million inflow
Market Context
The negative net flow highlights a cautious stance among investors in spot Ethereum ETFs despite robust trading activity. The divergence among issuers—significant outflows at BlackRock offset by inflows to Grayscale and Bitwise—suggests continued rotation within the product set as markets consolidate around the $2,741 price level for ETH.
Fund Breakdown
- BlackRock’s sizable weekly outflow of $562 million drove the aggregate net decline, indicating concentrated redemption activity.
- Grayscale and Bitwise bucked the broader trend with $49 million and $14 million in inflows, respectively, signaling selective demand for certain spot Ether ETF offerings.
Outlook
With weekly volumes still strong at $12 billion, investor engagement in spot Ethereum ETFs remains elevated. Flows may continue to oscillate as market participants recalibrate exposure amid price consolidation and shifting risk appetite.
Most traded ETH price for the week: $2,741
Conclusion
The week’s $504 million net outflow underscores mixed sentiment toward spot Ethereum ETFs, led by heavy redemptions at BlackRock and tempered by inflows to Grayscale and Bitwise. Sustained trading volumes suggest ongoing investor interest, with near-term flows likely to remain sensitive to ETH price dynamics and broader market conditions.