U.S. spot Ether ETFs post largest weekly redemptions since launch

U.S. spot Ethereum exchange traded funds recorded their largest weekly redemptions since launch last week, shedding about $796 million as Ether's price slipped below $4,000 before a modest rebound over the weekend. The withdrawals marked five consecutive days of outflows and followed two particularly heavy sessions that each saw roughly $250 million leave the funds, hitting several of the largest products hardest and pulling institutional demand lower.

Industry data show the nine U.S.-listed spot Ether ETFs posted roughly $795.6 million in net outflows for the week ending Sept. 26, narrowly eclipsing an earlier record. BlackRock's ETHA and Fidelity's FETH were among the biggest contributors to the withdrawals, with the largest individual fund redemptions reported at several hundred million dollars. Spot Bitcoin ETFs also experienced heavy outflows, totaling about $903 million over the same five-day stretch, leaving both markets with more than $1.7 billion in combined weekly redemptions.

The ETF flows coincided with a sharp pullback in Ether's market price. ETH traded around the mid-$3,800s after briefly dipping under $4,000, representing roughly a 10 percent decline over the...