BlackRock’s iShares Ethereum Trust (ETHA) experienced a $110.03 million outflow on September 16, marking the largest individual fund redemption across US spot Ethereum ETFs for the day. This withdrawal was part of a broader $224 million wave of net outflows across US spot Ethereum ETFs. US spot Bitcoin ETFs faced nearly $296 million in net outflows during the same session, as institutional investors reacted to the Federal Reserve’s first interest rate hike in three years. Despite the significant outflows, Ethereum’s spot price actually rose 1.54% on the day, indicating underlying demand from other market participants. Cumulative net inflows for US spot Ethereum ETFs stood at approximately $13.14 billion since their mid-2024 launch, establishing a substantial institutional holder base that creates a structural demand floor.
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