Author: Zack Abrams
Compiled by DeepChain TechFlow
DeepChain Overview: According to SoSoValue data analyzed by The Block, last week saw a net outflow of $542.1 million from U.S. spot Ethereum ETFs, marking the weakest week since January and extending the streak of consecutive net outflows to nine trading days. Spot Solana ETFs ended a record-breaking 14-week streak of net inflows, with a single-week outflow of $24.8 million. Combined with redemptions from Bitcoin ETFs, total outflows across the three categories amounted to approximately $1.25 billion. The funding landscape has shifted from “BTC inflows and SOL gains” to synchronized outflows, signaling a retreat from the crowded ETF trading trend.
Last week, U.S. spot Ethereum (ETH) ETFs recorded a net outflow of $542.1 million, the worst week since January; meanwhile, spot Solana (SOL) ETFs ended a record-breaking fourteen-week streak of net inflows, according to The Block’s analysis of SoSoValue data.
Ethereum funds have experienced net outflows for nine consecutive trading days, with a cumulative outflow of $697.2 million since September 29.
The spot Solana ETF experienced a net outflow of $24.8 million last week, the largest weekly outflow since its launch in late October 2025.
Combined with Bitcoin ETF redemptions, the three categories totaled approximately $1.25 billion in outflows last week.
Ethereum fund experiences second consecutive week of outflows
According to SoSoValue data, BlackRock’s ETHA, the largest Ethereum fund by assets, experienced a net outflow of $477 million last week, accounting for approximately 88% of the total outflows in the category. This marked the largest weekly outflow since mid-December 2025 and the third-largest since its launch in July 2024. Grayscale’s ETHE recorded the second-largest weekly outflow among Ethereum funds, at $31.9 million.
Tuesday was the heaviest trading day for Ethereum products, with $201.9 million redeemed, all from ETHA. This marked the largest single-day outflow for the fund since January 21 of this year. The outflow coincided with the effective date of ETHA’s 1-for-3 reverse stock split.
ETHA has recorded outflows for five consecutive trading days. The fund's net assets stand at $8.64 billion, approximately $4.15 billion lower than the cumulative net inflows of $12.79 billion.
Last week saw the largest outflow from this category since the week ending January 23, when $611.2 million exited. This marks the second consecutive week of net outflows for Ethereum ETFs, following $138 million in withdrawals the previous week. According to the data, Fidelity’s FETH accounted for $74.1 million of the prior week’s outflows.
Since September 28 (when net inflows reached $17.1 million), daily Ethereum ETF fund flows have been negative on every trading day. Ethereum outflows began on September 29, one day before Bitcoin ETFs ended a nine-day period with a cumulative $3.1 billion in net inflows. ETHA accounted for $506.1 million of this nine-day outflow period.
This cycle ties with the one from June 17 to 30 as the third-longest in fund history. The record is the 17-day period from May 11 to June 3, during which approximately $900.1 million was withdrawn from the product.
The spot Ethereum ETF's net assets fell 10% over the week to $15.71 billion. Since launch, cumulative net inflows have reached $13.26 billion. The fund recorded a positive net inflow of $931.8 million for the year, down from $1.47 billion a week ago.
Trading volume increased from $3.57 billion in the previous week to $5.18 billion.
The Solana Fund ends its record net inflow period
According to SoSoValue data, Solana products experienced outflows on all five trading days last week, marking the longest continuous daily outflow period on record. The previous longest streak was three consecutive days.
Bitwise’s BSOL, the largest Solana fund with $1.2 billion in net assets, experienced a net outflow of $20.9 million last week, accounting for approximately 84% of the category’s total outflows, according to data. This marks the largest single-week outflow in BSOL’s history, exceeding the $17 million outflow recorded for the week ended July 31.
The $9.2 million outflow on Monday was the largest of the week. Morgan Stanley’s MSOL and Invesco’s QSOL were the only Solana funds to record net inflows for the week, collectively attracting $2 million.
The weekly outflow of $24.8 million is approximately three times the previous record of $8.9 million for the week ending February 6. Since the week ending June 26, when the outflow was $1.8 million, these funds have not recorded a negative weekly flow. The fourteen-week net inflow period exceeds the previous record of thirteen weeks from launch through late January.
This reversal occurred after the Solana Foundation recorded a record weekly net inflow of $188.2 million two weeks ago.
The net assets of the spot Solana ETF have decreased from $1.9 billion a week ago to $1.73 billion. The fund held a record $1.96 billion on September 25. Total net inflows amount to $1.58 billion, with $816.8 million flowing in year-to-date in 2026.
Bitcoin funds end three weeks of net inflows
Spot Bitcoin (BTC) ETFs experienced a net outflow of $681.1 million last week, ending three consecutive weeks of net inflows, according to SoSoValue data. This was the worst week since the week ending June 26, when outflows reached $1.79 billion.
Wednesday saw the majority of outflows, with $487.1 million leaving the fund. The product returned to net inflows on Friday, recording $21.1 million.
Bitcoin funds' net inflows for 2026 decreased from $1.18 billion a week ago to $494.1 million. This category turned positive for the year in late September.
The Bitcoin ETF has net assets of $105.84 billion and has seen cumulative net inflows of $57.11 billion since its launch.
On Saturday morning, Ethereum traded around $2,506, SOL around $110.50, and Bitcoin around $82,900.