The capital outflow from Ethereum ETF has surged, and Bitcoin ETF has set a new record.

The Ethereum spot ETFs in America recorded the largest capital outflow since mid-May on Friday, just before the price of ETH plummeted below the 2,400 USD mark on Saturday. Meanwhile, Bitcoin ETFs continued to maintain a 9-day streak of consecutive net inflows, establishing a new record for accumulation.

Leading the wave of capital withdrawal from Ethereum funds is BlackRock, with the ETHA fund seeing withdrawals of up to 19.7 million USD – this is also the largest Ethereum ETF in the market currently based on assets under management (AUM). However, ETHA still holds 4.03 billion USD in assets, slightly more than the total AUM of two funds under Grayscale, ETHE and ETH (totaling 4.02 billion USD), according to data from SoSoValue.

A portion of the capital flow withdrawn from BlackRock's fund has been offset by the inflow of funds into other funds: Grayscale recorded an inflow of 6.6 million USD and VanEck's ETHV added another 1.8 million USD, bringing the total AUM of ETHV to 114.8 million USD. However, the price of ETH has decreased by about 5% over the past 7 days and fell below 2,400 USD on Saturday afternoon, according to data from The Block.

Despite the recent capital withdrawal sessions, the total net inflow into ETH ETFs since the beginning of the month has reached about 840 million USD. "Data shows that institutions still have expectations for the mid-term outlook of crypto, but the catch-up phase for Ethereum seems to have ended," expert Valentin Fournier from BRN commented to The Block.

Bitcoin ETF continues to set records for capital inflow

In contrast to Ethereum, Bitcoin spot ETFs continue to set records for total accumulated inflows. Friday marked the fifth consecutive day these funds set new highs, with total net inflows reaching 46.7 billion USD.

However, the modest inflow figure on Friday – only 6.4 million USD – is also the lowest since June 6 ( when there was a recorded outflow of 47.8 million USD), indicating a potential cooling in demand for BTC ETF funds. BlackRock's IBIT fund still leads with 46.9 million USD in inflows, while Fidelity's FBTC fund saw an outflow of 40.6 million USD.

Currently, spot Bitcoin ETFs account for about 1/4 of the total Bitcoin trading volume globally, according to The Block. However, direct transactions on the Bitcoin blockchain are at their lowest level in 18 months. Expectations for a new wave from native protocols like Runes and Ordinals are also gradually fading as demand declines.

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