Ether exchange-traded funds (ETFs) halted their 14-week inflow streak with a net outflow of $237.73 million during the week of August 18–22, 2025. Notably, the figure reflects weakening investor sentiment despite recent institutional optimism around the Ethereum ecosystem.
The $238M ETH ETF Outflow
The sell-off was more intense in the early part of the week, with August 19 posting the largest single-day net outflow of $429.6 million. That day, Fidelity’s FETH led the outflow with $156.3 million, followed by Grayscale’s ETHE and Bitwise’s ETHW with $122 million and $39.8 million, respectively. BlackRock’s ETHA also saw a $6.3 million exit.
However, tides changed in the latter half of the week, as funds rebounded with $287.6 million in inflows on August 21 and $337.7 million on August 22, driven by renewed interest led by BlackRock ($109.4 million), Fidelity ($117.9 million), and Bitwise ($36.3 million). Nonetheless, despite the late recovery, total flows across all issuers closed in negative territory for the week.
On the other hand, Bitcoin ETFs extended their outflow streak by $1.18 billion during the same period. BlackRock’s IBIT ($615 million) and Fidelity’s FBTC ($481.3 million) witnessed the largest outflows, while Ark’s ARKB and Bitwise’s BITB saw smaller exits. The flows stabilized on August 22 when Fidelity, Ark, and VanEck posted gains that were not enough to offset earlier losses.
U.S. Crypto ETFs Grow
Crypto ETFs in the U.S. have grown from modest beginnings in January 2024 into a multi-billion-dollar product. According to SoSoValue, Bitcoin ETFs saw strong early demand, with inflows peaking at $6.49 billion in November 2024. Today, they have accumulated $53.8 billion in net inflows and held $150.23 billion in assets, representing 6.45% of Bitcoin’s total market cap.
Ether ETFs, launched in July 2024, experienced early outflows that questioned their staying power. The narrative shifted with its $2.08 billion inflow in December 2024 and record inflows of $5.43 billion in July. Today, Ether ETFs have pulled in $12.43 billion in cumulative net inflows, grown to $30.58 billion in assets, and now account for 5.22% of Ether’s market cap.
Meanwhile, on-chain tracker Lookonchain posted about a Bitcoin whale who first received 100,784 BTC seven years ago (now valued at $11.4 billion). Over the past five days, the whale deposited 22,769 BTC ($2.59 billion) to the decentralized exchange Hyperliquid for sale, then purchased 472,920 ETH ($2.22 billion). The address also opened a $577 million worth of Ether long position in the perpetuals market.
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