Ethereum ETFs suffer $796 million net outflow in one week

Following a significant influx the prior week, spot Ethereum ETFs concluded the week of September 22–26 with massive outflows. According to SoSoValue data, net weekly redemptions totaled approximately $795.6 million, with weekly trading volume exceeding $10 billion.

The week started with outflows and remained in the red for all five trading days. Here is the daily breakdown of the net outflows:

Mon, September 22: approx. −$76.0 million
Tue, September 23: approx. −$140.8 million
Wed, September 24: approx. −$79.4 million
Thu, September 25: approx. −$251.2 million (the largest outflow of the week)
Fri, September 26: approx. −$248.4 million

In total, Ethereum ETFs lost $795.6 million during the week, which SoSoValue estimates as the worst since launch. The previous record outflow ($787.7 million) was set earlier in September.

ETH ETF outflows accelerated between September 22 and 26. Source: sosovalue

The largest contributions to the outflows came from major funds: Grayscale (ETHE) lost $30.3 million (Sept. 25), Fidelity's FETH saw $158 million withdrawn (Sept. 25), and BlackRock's ETHA demonstrated the largest daily outflow, with $200 million exiting the fund.

Meanwhile, ETH price rebounded above $4,100, demonstrating a classic divergence: institutional investors are actively de-risking despite the price rally. This is a concerning signal for bulls. The drop in trading volume and market capitalization suggests an unstable market trend.

ETH price dynamics for the week. Source: coinmarketcap

Despite the outflows, Ethereum ETF assets under management (AUM) remain substantial, totaling about $27.4 billion by the end of the week. The combined positions of the funds account for approximately 5.4–5.5% of ETH’s total market capitalization.

For comparison, Bitcoin ETFs also closed the same week in the red. They lost over $900 million in aggregate capital, reflecting a broader reversal of the generally positive September sentiment across the crypto market.