According to ChainCatcher and data from SoSoValue, Ethereum spot ETFs experienced a significant net outflow of $81.8651 million on June 25 (Eastern Time), reflecting cautious short-term investor sentiment.
Divergent Flows: BlackRock Under Pressure, Bitwise Bucks the Trend
Product-level data reveals a clear divergence. On the inflow side, Bitwise's Ethereum spot ETF (ETHW) recorded a net inflow of $0.557 million, bringing its cumulative net inflow to $385 million. Conversely, BlackRock's ETHA dominated the outflow side with a massive $62.986 million single-day outflow, making it the biggest drag on the day. Despite this, ETHA's cumulative net inflow remains robust at $11.093 billion.
Overall Market Size and Ratio
As of press time, the total net asset value of Ethereum spot ETFs stands at $8.295 billion, equivalent to 4.41% of Ethereum's total market capitalization (ETF net asset ratio). Since launch, cumulative net inflows have reached $10.916 billion. Although the single-day outflow is substantial, the overall cumulative inflow remains historically high, indicating that long-term institutional allocation trends are largely intact.
Market Implications
A net outflow exceeding $80 million in a single day is notable for Ethereum ETFs and may be driven by macro sentiment shifts, short-term arbitrage unwinding, or liquidity portfolio adjustments. Notably, BlackRock's ETHA—the largest product with over $11 billion in cumulative inflows—has a disproportionate impact on aggregate figures, while smaller products like Bitwise continue to attract inflows, suggesting differentiated investment strategies remain active.