BlackRock’s iShares Ethereum Trust recorded a $52.76 million net outflow on July 24, breaking from the recent pattern that had made it a key driver of spot Ether ETF demand. The broader group of U.S. spot Ether ETFs lost $70.62 million that day, with ETHA accounting for most of the reversal.
That stands out because just 2 days earlier, ETHA brought in $53.47 million and helped extend a 4-day inflow streak for the sector. Earlier in the month, U.S. spot Ether ETFs had also taken in $96 million over the first 3 trading days of the week, with BlackRock absorbing most of that new money.
Seen in that context, the July 24 withdrawal looks less like routine noise and more like a break in momentum at the fund many institutions have used for regulated Ethereum exposure. What matters now is whether ETHA returns to net inflows or whether this marks the start of a more sustained period of redemptions.