After weeks of strong demand, Ethereum ETFs have recorded their first major outflows since inception. On August 18 and 19, 2025, spot ETH funds saw combined withdrawals of nearly $200 million, marking a turning point after several weeks of inflows that had surpassed billions.
Outflows hit BlackRock and Fidelity
Data shows that the biggest redemptions came from the BlackRock iShares Ethereum ETF (ETHA) and Fidelity’s FETH, which lost around $86.9 million and $78.4 million respectively. Other issuers, including Grayscale, Franklin Templeton, VanEck, and Bitwise, also reported smaller outflows.
The back-to-back withdrawals amounted to the second-largest daily loss on record for ETH ETFs, a sharp reversal from July’s surge when Ethereum products attracted $5.4 billion in just 20 days.
Profit taking after strong rally
Analysts view the move as a sign of profit-taking, rather than a loss of confidence. Ethereum ETFs still hold more than $11 billion in net inflows year-to-date, representing over 5% of ETH’s circulating supply under institutional custody.
Market strategists note that such pullbacks are normal after strong rallies, with investors locking in gains while waiting for the next catalyst.
Ethereum vs Bitcoin ETFs
While Bitcoin ETFs remain the dominant product by volume, Ethereum has shown remarkable institutional traction. The recent $866 million in weekly outflows marks a cooling period, but it highlights Ethereum’s growing role as a legitimate investment vehicle for funds and pensions.
Sources:
