Ethereum ETFs see largest weekly net outflow since January

US spot Ethereum ETFs just had their worst week since late January. Investors pulled $542.1 million from the funds during the trading week ending October 9, 2026.

That marks the biggest weekly exodus in more than eight months. It also arrives with Ether sliding below a price level traders tend to watch closely.

BlackRock’s fund did most of the bleeding

The outflows were not spread evenly. BlackRock’s iShares Ethereum Trust (ETHA) accounted for roughly $477 million of the weekly total.

That works out to approximately 88% of all redemptions in the category.

Grayscale’s ETHE came in a distant second. It saw $31.9 million in withdrawals over the same week.

For context, the last time the category posted a weekly figure this bad was late January. Back then, Ethereum ETFs recorded $611 million in withdrawals.

The latest week is also part of a longer losing run. The funds have now logged nine consecutive trading days of outflows, starting on September 29.

Over that stretch, total redemptions reached $697.2 million.

Ether slips under $2,500 as volume dries up

The price action has not offered much comfort. ETH settled near $2,491 on October 10, down more than 7% over the prior week of trading.

That move pushed Ether below two markers at once. It fell under its 50-day simple moving average and dropped beneath the $2,500 threshold.

Activity also thinned out considerably. Trading volume for ETH fell 61%, landing at $7.2 billion.

Bitcoin and Solana funds felt it too

Ether was not alone in this. Bitcoin ETFs saw outflows of approximately $681 million around the same period.

Spot Solana ETFs had an even more symbolic moment. The funds recorded their first outflows since launch, ending an inflow streak that had lasted 14 weeks.

The longer view still looks positive

Cumulative net inflows into US spot Ethereum ETFs stood at about $13.26 billion as of October 9, 2026.

Total net assets held across the funds were estimated at $15.71 billion. So the recent redemptions, while sizable, represent a fraction of the capital that has flowed into these products overall.

What this means for investors

The concentration in ETHA is the detail worth sitting with. BlackRock’s fund is the largest vehicle in the category, which also makes it the easiest place for large holders to reduce exposure quickly.

The research behind these figures suggests the outflows may indicate fading investor confidence as market conditions shift. It also points to the simultaneous drops in Ether and Bitcoin as possibly reflecting wider bearish sentiment, potentially tied to external economic factors and regulatory uncertainty.

For anyone tracking Ether, a few signals stand out. The first is whether ETH can reclaim the $2,500 level and its 50-day average. The second is trading volume, which currently stands at $7.2 billion. The third is daily ETF flow data, given that the current outflow streak now spans nine days.

If newer products like spot Solana ETFs continue to see redemptions after a 14-week run of inflows, it could hint that investors are trimming riskier crypto positions across the board rather than rotating between assets.