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On October 1, the Fidelity Ethereum Fund (FETH) recorded a massive outflow of $25 million, marking the largest daily outflow among U.S. spot Ether ETFs, excluding Grayscale’s Ethereum Trust (ETHE).
This significant withdrawal contributed to a total of $48.6 million in outflows across nine Ethereum ETFs that day.
While FETH led the pack in outflows, Grayscale’s ETHE and Bitwise’s Ethereum ETF (ETHW) also saw losses of $26.6 million and $0.9 million, respectively.
However, not all ETFs faced negative trends. VanEck’s Ethereum ETF (ETHV) and 21Shares’ Core Ethereum ETF (CETH) recorded positive inflows of $2.7 million and $1.2 million.
Despite the drop, FETH remains the second-highest in total investments, holding $453.5 million, just behind BlackRock’s iShares Ethereum Trust (ETHA), which leads with over $1.14 billion.
This Ethereum outflow mirrors similar trends in the Bitcoin ETF market, which saw a $242.6 million outflow on the same day.