BlackRock dumped over $300 million Ethereum this week; Incoming sell-off?
BlackRock’s Ethereum ETF, ETHA, faced heavy selling pressure this week, coinciding with a period of heightened volatility in the asset. Data indicates that the ETF recorded net outflows of $312.5 million. The only positive session came on September 4, when $148.8 million flowed into the fund. This gain was immediately offset by three consecutive redemption days, including $151.4 million on September 3, $309.9 million on September 5, and smaller drawdowns on other days, resulting in a deeply negative week. Ethereum ETF net inflows. Source: Coinglass The outflows come as U.S. spot Ethereum ETFs, which saw strong inflows in August, are now under broad pressure. By contrast, Bitcoin ETFs, including BlackRock’s IBIT, recorded net inflows, suggesting institutions are rotating toward the more established asset. While large redemptions from spot ETFs signal waning institutional demand, retail and offshore buyers have helped cushion ETH from steeper losses. Even so...