U.S. spot Ether ETFs closed nine straight sessions with money leaving, from Sep 29 through Oct 9. The week of Oct 5–9 is where that streak got large, and BlackRock's ETHA was nearly nine-tenths of the week's outflow.
Across those nine sessions, $697.4 million left the funds and ETHA accounted for $506.1 million (Farside Investors). The first four sessions are the smaller share. If you hold ETHA, you'll want this week in front of you. Most of the early outflow left other funds.
Three stretches, one heavy week
| Period | Period net | ETHA |
|---|---|---|
| Sep 29–30 | −$62.4M | −$8.9M |
| Oct 1–2 | −$92.8M | −$20.1M |
| Oct 5–9 | −$542.2M | −$477.1M |
Sep 29 still belongs in the streak. The category lost $2.8 million that day, small beside the sessions that followed, and the run includes that close. ETHA's piece of the opening stretch was −$8.9 million, all of it on Sep 29. Sep 30 was the first sizable day, at −$59.6 million, and ETHA was flat. If you hold another Ether fund, Sep 30 is already on your own row.
Oct 1–2 stays in that pattern. The period net is −$92.8 million and ETHA is −$20.1 million, a small share of the money that left. ETHA was flat on Oct 1, a day the category lost $55.4 million, and the fund's −$20.1 million landed on Oct 2 inside a −$37.4 million session. Two days on, BlackRock's fund is still the smaller line.
The week of Oct 5–9 is the stretch that changed the streak. Oct 6 was the heaviest session of the nine, −$201.9 million, and the entire day was ETHA. Oct 7 stayed heavy at −$160.9 million. ETHA was −$116.1 million of that session, and other Ether funds moved too, so Wednesday shows up even when you own a different fund. Friday, Oct 9, was −$56.1 million, and every other Ether product on the sheet was flat. ETHA was nearly nine-tenths of the −$542.2 million that left that week.
Most of the nine-session $697.4 million left in that week. Nearly all of ETHA's $506.1 million in the streak left then too. The opening periods are real, and they're the smaller share. The nine-session total blends a lighter open with that heavy week.
If ETHA is the fund you own, the heaviest day was entirely yours and Friday was entirely yours. On those prints the category total and your fund moved together. If you own a different Ether ETF, Friday's flat line is the figure to read before you take the category total as your own. Sep 30 and Oct 7 are the other sessions where products besides ETHA did the leaving. Check those sessions on your ticker, then decide what the headline is worth to you.
Ether traded near $2,491 on Oct 10 (Blockonomi).
Bitcoin funds took in $21.1 million on that same Friday. Their Oct 5–9 total was still −$678.9 million, a one-day intake inside a week that stayed heavily negative.
Monday, Oct 12, is the next session that can extend this streak or end it. An inflow that day would close the run of red sessions and leave the Oct 5–9 week on the books, with that outflow still concentrated in ETHA. Read the print by ticker. ETHA can be quiet while another Ether fund moves, which is what Sep 30 and Oct 1 already looked like inside this run.
These figures count creations and redemptions of fund shares, so a sale of your ETF shares to another person on an exchange is a separate event.
If you hold ether through a brokerage ETF, read the streak as demand for that listed product. When your ticker is ETHA, last week sits in your fund, and the category total runs wider than that. Check the Oct 12 session before you treat Friday's Bitcoin inflow as a turn, and keep a plan for the holding that can stand through the next print.
Photo: Travis Wise / Wikimedia Commons, CC BY 2.0.
