Ethereum ETFs Face $219M Outflow in 24 Hours — BlackRock’s ETHA Sees Record $111M Withdrawn
On November 4, 2025, Ethereum spot ETFs experienced a sharp net outflow of $219 million, marking the fifth consecutive day of declines, signaling caution among institutional investors. The BlackRock iShares Ethereum Trust (ETHA) led the withdrawals with $111 million, despite maintaining a historical net inflow of $13.975 billion due to its competitive costs. Ethereum ETFs account for 5.45% of the total market cap of Ethereum, with no signs of a liquidity crisis, suggesting these withdrawals are short-term repositioning. Analysts attribute the trend to profit-taking and a shift toward Bitcoin ETFs. Despite the outflows, regulated Ethereum ETFs like Fidelity (FETH) and Grayscale (ETHE) reported lower redemptions, with Ethereum remaining the second-largest institutional crypto asset.
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Ethereum Spot ETFs Experience Sharp Net Outflows
According to the SoSoValue data distributed by WuBlockchain, Ethereum spot ETFs saw their net outflow decrease by a sharp 219 million on November 4, 2025. This marked the fifth consecutive day of outflows, highlighting a high level of caution by institutional investors. The current trend reflects a volatile week in Ethereum trading, with prices fluctuating around the $3,000 mark, prompting profit-taking. These withdrawals are indicative of a shift in sentiment towards risk assets, redirecting investor focus to stablecoins and Bitcoin ETFs.
BlackRock’s ETHA Leads Outflows Despite Historical Success
The BlackRock iShares Ethereum Trust (ETHA) led the withdrawals, posting a single-session outflow of $111 million, accounting for over 50% of the daily withdrawal figure. However, ETHA still boasts a historical cumulative net inflow of 13.975 billion, showcasing the previous enthusiasm among institutional investors. Its competitive 0.25% expense ratio has been pivotal in attracting long-term investment, but the current sell-off reflects a temporary loss of confidence.
Ethereum ETFs Represent Significant Market Capitalization
According to SoSoValue, Ethereum spot ETFs collectively amount to a total net asset base of $21.125 billion, representing 5.45% of Ethereum's total market capitalization. Assuming an average Ethereum price of $3,000, this equates to approximately 7 million Ethereum units owned by ETFs. Despite recent outflows, the high net asset base suggests that the withdrawals are part of portfolio repositioning and do not signify a liquidity crisis.
Shift Toward Bitcoin ETFs Amid Market Uncertainty
Research indicates that changes in Ethereum ETF redemptions are primarily driven by profit-taking following strong post-halving gains. CoinGlass data reveals that institutional portfolios are turning towards Bitcoin ETFs, with mild inflows observed during the same week. Ethereum’s performance remains closely tied to macro-economic factors, including rate-cut expectations and U.S. tech stock trends.
Ethereum's Institutional Trust Endures Despite Outflows
Despite the significant outflows of $219 million, regulated Ethereum ETFs continue to retain investor trust due to their transparent holdings and low leverage. TradingView data shows ETHA trading at a 0.52% premium to its NAV, hinting at sustained demand. Additionally, ETFs by Fidelity (FETH) and Grayscale (ETHE) experienced lower redemption rates, suggesting relative market stability. With over $21 billion in net assets, Ethereum remains the second-largest institutional crypto asset, with ETFs serving as a major access point for traditional investors.