Ethereum ETFs kicked off the week with a sharp sell-off, recording nearly $200 million in outflows on Monday. According to SoSoValue, the funds saw $196.7 million exit on the day their second-largest single-day outflow since launch, only behind the $465 million drop on Aug. 4.
Monday’s withdrawals followed $59 million in losses on Friday, pushing the two-day total to $256 million.
Even so, these outflows remain small compared to the recent record-breaking streak of inflows. Over the previous eight trading days, spot Ether ETFs pulled in $3.7 billion, with some days exceeding $1 billion in new investments.
Ethereum ETF Outflows Led by BlackRock and Fidelity
Farside data shows that BlackRock and Fidelity led Monday’s ETH ETF outflows, recording $87 million and $79 million, respectively.
Just a few days earlier, on Friday, Fidelity’s Ethereum Fund (FETH) alone saw $272 million in withdrawals, driving the bulk of that day’s $59 million total outflows.
BlackRock, meanwhile, has grown into one of the largest institutional Ether holders. Its iShares Ethereum Trust ETF (ETHA) reported holdings of about 3.6 million ETH worth $15.8 billion as of last Friday. By Monday, the fund’s value had slipped 1.5% to $15.6 billion, in line with Ether’s broader market decline of roughly 6.5% over the same period, according to CoinGecko.
Ethereum Unstaking Queue Hits Record Highs
Ether’s unstaking queue continues to hit new records, adding pressure to the market alongside the recent wave of ETF outflows and volatile price swings.
Data from ValidatorQueue, which monitors Ethereum’s proof-of-stake (PoS) validator activity, shows that the exit line for withdrawals reached an all-time high of 910,000 ETH, valued at roughly $3.9 billion, on Tuesday. Validators now face a wait time of at least 15 days and 14 hours to unstake their Ether.
Meanwhile, spot Ether ETFs have recently outpaced Bitcoin ETFs in inflows, signaling a shift in investor demand from BTC toward ETH.
