Ethereum ETFs end week with $489.5M inflows amid market crash
After a powerful early-October reversal, inflows into U.S. spot Ethereum ETFs continued through Thursday, but Friday’s market crash hit funds hard and trimmed the weekly result.
According to SoSoValue, cumulative net inflows for October 6–10 totalled about $489.5M.
Over the first three days of the week, funds took in more than $670 million: Mon: +$182M; Tue: +$421M; Wed: +$69.0M. On Thursday, a modest net outflow of $8.5 million was recorded, and on Friday, October 10, total outflows across spot ETFs reached approximately $175 million. None of the nine institutional funds saw inflows. Even so, the two red days did not fully erase the earlier positive balance across the ETF complex.
Early in the week, demand was concentrated in the largest products BlackRock (ETHA) and Fidelity (FETH). On October 8, ETHA saw a notable inflow, while FETH posted a local outflow.
On 10 October, the most volatile trading day, funds moved in sync with broad market outflows. BlackRock’s ETHA saw withdrawals of $80.2 million, followed by $30.1 million from Fidelity’s FETH, $30.6 million from Grayscale’s ETHE, $21.6 million from Bitwise’s ETHW, and $12.4 million from Franklin’s ETH fund.
The market crash that began on Oct. 10, following Donald Trump’s post about a 100% tariff on imports from China, and continued overnight into Oct. 11 unfolded as a cascade of forced deleveraging. Derivatives venues saw a chain reaction of liquidations in long positions, while spreads widened sharply and order books thinned across major venues. As volatility spiked, exchange risk engines raised margin requirements, accelerating forced liquidations and downside pressure.
Alongside the geopolitical shock, several factors amplified the bearish move: investors exiting higher-beta altcoin positions, temporary delays/outages among some market makers, and aggressive risk reduction by arbitrage desks between spot, perpetuals and options markets. By Friday’s close, these dynamics translated into negative funding, falling open interest and a compressed basis, a backdrop that aligns with the sharp Friday outflows from ETH ETFs.
Because outflows dominated across the largest issuers into the end of the week, ETF redemption pressure is likely to shape next week’s flows. For investors, that implies an elevated risk of further outflows if volatility persists, even if ETH partially recovers.
