Among the issuers, Grayscale and Fidelity led the exodus with outflows of $122 million and $156.32 million, respectively. BlackRock’s flagship, the iShares Ethereum Trust (ETHA), saw its holdings slip from 3.6 million ETH (around $15.8 billion) to about $14.7 billion on Tuesday.
The timing of this wave of withdrawals in the past 24 hours could not be more damaging, as Ethereum was already sliding from its recent peak. The outflow immediately amplified downward pressure on the market, which caused Ethereum to crash below $4,100.
Tuesday’s outflow numbers were not an isolated incident but the culmination of an outflow trend that has now stretched across three consecutive trading sessions. On Monday, Spot Ethereum ETFs recorded outflows of $196.62 million, which itself was one of the highest single-day exits since launch. This came immediately after Friday’s $59 million outflow, which ended the prior streak of record inflows. In just four days, these withdrawals have drained more than $677 million from Spot Ethereum ETFs.
