BlackRock’s Ethereum fund had another rough day at the office. Clients of the iShares Ethereum Trust (ETHA) pulled $75.07 million worth of Ethereum on October 12, 2026.
That one fund drove most of the day’s pain. Across all US spot Ethereum ETFs, net outflows totaled $85.4 million, so BlackRock’s product was doing the bulk of the bleeding.
A streak that keeps getting longer
The October 12 outflow capped a run of nine consecutive days of money leaving Ethereum ETFs.
For the week ending October 9, spot Ethereum ETFs recorded $542.1 million in net redemptions. That figure marked the largest weekly outflow since January 2026. ETHA accounted for about 88% of those redemptions.
BlackRock’s fund has also seen sizable single-day withdrawals in recent weeks. Clients pulled roughly $110 million on September 16 and $201.9 million on October 6.
Ethereum’s price slides alongside the flows
The redemptions coincided with a soft patch in the underlying asset. Ethereum was consolidating around $2,500 on October 12. Earlier in the month, the token had been trading between $2,600 and $2,715.
Total assets under management across US spot Ethereum ETFs stood at approximately $15.86 billion as of October 12. That represents roughly 5.15% of Ethereum’s total market capitalization.
Still the heavyweight, despite the bruises
For all the recent selling, ETHA remains the dominant force in the category. Since launching in July 2024, the fund has accumulated more than $12.7 billion in cumulative net inflows. The fund charges a 0.25% sponsor fee.
Spot Ethereum ETFs arrived in the US in mid-2024, giving traditional investors a regulated wrapper for the second-largest crypto asset.
Meanwhile, over in Bitcoin land
Bitcoin ETFs recorded mixed to positive inflows during the same period that Ethereum funds were bleeding, pointing toward a potential tactical rotation among digital asset investors rather than a wholesale retreat from crypto.
What this means for investors
With ETHA responsible for roughly 88% of recent weekly redemptions, the health of the entire Ethereum ETF category leans heavily on how BlackRock’s clients behave.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.