The Ethereum Spot ETF suffered a large outflow of funds, and the Solana ETF ended its net inflow for 14 consecutive weeks.
Last week, Ether-backed spot exchange-traded funds (ETFs) recorded a net outflow of US$542.1 million. It was its worst week since January this year. At the same time, this trend is also continuing in the Solana market, whose related ETFs have just ended a 14-week record of consecutive net capital inflows.
Overview of Core Data
The Ethereum ETF lost US$542.1 million in a week, setting its worst weekly performance since the week of January 23. The divestment operation has lasted for nine trading days, and the cumulative outflow since September 29 has reached US$697.2 million. Among them, BlackRock's ETHA funds accounted for 88% of total outflows.
For the Solana ETF, the loss of funds was US$24.8 million, while the Bitcoin fund also ended its previous inflow momentum.
Capital outflows for nine consecutive days
The market reversal occurred at the end of September. On September 28, the Ethereum ETF still attracted US$17.1 million in inflows, but investor attitudes changed the next day. This change coincides with the end of nine consecutive days of capital inflows from Bitcoin funds.
Since September 29, total withdrawals have reached US$697.2 million in nine trading days. Last week alone, a net outflow of $542.1 million was concentrated. Looking for similar negative records, you need to go back to the week of January 23, when $611.2 million in divestments were recorded (Source: SoSoValue). Tuesday was the heaviest day of capital outflows this week, with outflows reaching US$201.9 million in a single day.
Currently, this continuous outflow sequence has become one of the longest records since the launch of the spot Ethereum ETF, matching the record for the period from June 17 to 30. The historical high was 17 consecutive trading days, which occurred from May 11 to June 3, with a cumulative total divestment of US$900.1 million.
BlackRock is under major withdrawal pressure
Not all funds are under equal pressure. BlackRock's ETHA products recorded an outflow of $477 million in one week, accounting for approximately 88% of the total outflow. This is the product's worst weekly performance since mid-December 2025 and the third worst performance since its launch in July 2024.
The fund experienced a capital loss within five trading days. On Tuesday, divestments reached $201.9 million, the worst one-day result since January 21. In comparison, Grayscale's ETHE fund recorded an outflow of $31.9 million.
Currently, the net assets managed by ETHA are US$8.64 billion, while its cumulative inflow since its establishment is US$12.79 billion, a gap between the two has reached US$4.15 billion. At the same time, the total asset size under management for all Ethereum ETFs fell 10% in a week to $15.71 billion. Cumulative net inflows since January also fell to $931.8 million from $1.47 billion a week ago.
However, trading volume rose to US$5.18 billion. This pressure on the Ethereum ETF is part of broader market movements, as Bitcoin funds have also recorded significant outflows.
Solana ETF lost momentum
Solana was not immune to this trend. Its ETFs have experienced outflows in all five trading days this year, the first time since the launch of these products has recorded continuous outflows of such length. The total loss was US$24.8 million, almost triple the previous weekly outflow record of US$8.9 million set in early February (Source: SoValue).
Bitwise's BSOL funds accounted for the majority of these divestments, amounting to US$20.9 million, or 84% of the total outflow. This development also ended the 14-week record of continuous net capital inflows since this product was launched in October 2025, which is also the longest continuous inflow cycle in this category.
The market reversal occurred two weeks ago after a peak weekly inflow of $188.2 million. At the same time, asset management fell back to US$1.73 billion, down from the all-time high of US$1.96 billion set on September 25. Overall, Bitcoin, Ethereum and Solana ETFs collectively lost approximately $1.25 billion last week.

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