US spot Ether ETFs just posted their worst week of redemptions in more than eight months. The category shed $542.1 million in net outflows for the week ending October 9, the largest weekly drawdown since late January, according to SoSoValue data reported by The Block and KuCoin.

The size of the move matters less than where it came from. Nearly nine out of every ten dollars pulled out of the category left through a single fund, BlackRock’s iShares Ethereum Trust (ETHA), and the redemption streak has now run for nine straight trading days without a single positive session.

Key Takeaways

  • US spot Ether ETFs lost $542.1 million in the week ending October 9, 2026, the largest weekly outflow since the week ending January 23, when the category shed $611.2 million.
  • BlackRock’s ETHA accounted for $477 million of the week’s redemptions, about 88% of the category total, per The Block.
  • The outflow streak has run nine consecutive trading days since September 29, totaling $697.2 million.
  • Bitcoin ETFs lost $681.1 million and Solana ETFs lost $24.8 million in the same week, ending a 14-week Solana inflow streak, according to KuCoin.
  • Ether traded near $2,491 on October 10, down more than 7% over the prior week and below both $2,500 and its 50-day moving average, per CoinGape.

BlackRock’s Fund Accounts for Most of the Outflow

ETHA led the category by a wide margin. The fund lost $477.0 million over the week, about 88% of all Ether ETF redemptions, its largest weekly outflow since mid-December 2025 and its third-largest since launching in July 2024, according to The Block.

Grayscale’s ETHE posted the next-largest weekly outflow among Ether funds, at $31.9 million. Tuesday was the heaviest single day for the category, with $201.9 million in redemptions, all from ETHA, the fund’s largest single-day outflow since January 21. That outflow landed on the same day ETHA’s 1-for-3 reverse share split took effect, per The Block and KuCoin. ETHA posted outflows in all five sessions and now holds $8.64 billion in net assets, roughly $4.15 billion below its $12.79 billion in cumulative net inflows.

The prior week was already negative. Ether ETFs lost $138.0 million in the week before, with Fidelity’s FETH accounting for $74.1 million of that total, according to KuCoin. The category last posted a positive day on September 28, when it took in $17.1 million.

Nine Straight Days of Redemptions

The current losing streak began September 29 and has now run nine consecutive trading days, removing $697.2 million from the category, per The Block. ETHA alone accounts for $506.1 million of that nine-day total.

The streak ties a June 17 to 30 run as the third-longest in the category’s history. The longest stretch on record ran 17 days, from May 11 to June 3, and removed about $900.1 million from the funds, according to KuCoin. The last comparable weekly figure to this week’s $542.1 million came in the week ending January 23, when the category lost $611.2 million.

Bitcoin and Solana Funds Move the Same Direction

The outflows were not isolated to Ether. Bitcoin ETFs lost $681.1 million over the same week, snapping a three-week inflow run, while Spot Solana ETFs lost $24.8 million, ending a 14-week inflow streak that had been the longest since the products launched in October 2025, according to The Block. Combined, the three categories lost about $1.25 billion for the week.

Bitwise’s BSOL, the largest Solana fund with $1.20 billion in net assets, lost $20.9 million, about 84% of the Solana category’s outflows and the fund’s largest weekly loss on record, exceeding a prior $17.0 million outflow in the week ending July 31, per KuCoin. Solana ETFs posted outflows in all five sessions last week, their longest daily outflow streak on record. Morgan Stanley’s MSOL and Invesco’s QSOL were the only Solana funds with weekly inflows, taking in a combined $2.0 million.

Price and Volume Context

Ether’s price action lined up with the outflows. ETH settled near $2,491 on October 10, down more than 7% over the prior week, falling below both the $2,500 level and its 50-day simple moving average, according to CoinGape. Spot ETH trading volume fell 61% to $7.2 billion over the same window, per CoinMarketCap data cited by CoinGape.

ETF-specific trading volume moved the opposite way, rising to $5.18 billion from $3.57 billion the previous week, according to KuCoin. Ether’s exchange balance also climbed, with roughly 90,000 ETH moving onto exchanges since October 8, pushing the total to 11.8 million ETH, a multi-week high, per CoinGlass data cited by CoinGape. Ether futures open interest fell from 13.29 million ETH to 12.77 million ETH over the same stretch.

The Category Remains Net Positive for the Year

Despite the week’s redemptions, Ether ETFs remain net positive since launch. Cumulative net inflows stood at about $13.26 billion as of October 9, with total net assets across the funds at $15.71 billion, down 10% for the week, according to KuCoin. Year-to-date net inflows stood at $931.8 million, down from $1.47 billion a week earlier.

What to Watch

The outflow streak is now nine trading days old and has not had a positive session since September 28. Whether that run extends past the 17-day record set between May 11 and June 3 is the clearest near-term marker for the category. Daily ETF flow data, along with whether Ether can reclaim the $2,500 level and its 50-day moving average, will show whether the current stretch is a pause or an extension of this trend.

Sources