Overall Capital Drain Persists
According to SoSoValue data, U.S. Ethereum spot ETFs experienced a net outflow of $273 million during the trading week from June 22 to June 26 (Eastern Time), extending a losing streak that now spans seven consecutive weeks. As of press time, the total net asset value of all 11 funds stood at approximately $8.38 billion, equivalent to 4.42% of Ethereum's total market capitalization. Despite cumulative historical net inflows still sitting at $10.9 billion, the sustained outflows have eroded recent gains.
BlackRock's ETHA Leads, Grayscale Follows
The largest weekly outflow came from BlackRock's ETHA, which saw net redemptions of $236 million. However, since its launch, ETHA's cumulative net inflow remains robust at $11.08 billion, making it one of the largest Ethereum ETFs by assets. Grayscale's Ethereum Mini Trust (ETH) recorded a weekly outflow of $22.22 million, bringing its historical cumulative inflow to $1.83 billion. Combined, these two products accounted for the vast majority of last week's total outflows.
Selective Inflows Against the Tide
Within the overarching outflow trend, Bitwise's Ethereum spot ETF (ETHW) posted a modest net inflow of $557,000 for the week. Bitwise ETHW has accumulated $385 million in net inflows since launch. Other funds, including those from VanEck and Franklin Templeton, saw minimal weekly changes, reflecting cautious market sentiment. If the outflow trend continues, the total net asset value of Ethereum ETFs could face further downward pressure.