Ethereum Spot ETFs See Fresh Outflows; Grayscale Mini ETF Only Gainer

Published: 2025-12-25 05:07:04 |

Ethereum spot ETFs recorded renewed outflows in late December, reflecting short-term rotation among products and modest demand for spot ETH exposure. According to SoSoValue, the latest report (Dec. 24 EST) shows a single-day net outflow of $52.70 million for Ethereum spot ETFs. Grayscale’s large ETHE led withdrawals with $33.78 million in outflows, while Grayscale’s mini Ethereum ETF (ETH) was the only product to post net inflows, receiving $3.33 million. Total assets under management for Ethereum spot ETFs fell to $17.863 billion, about 5.03% of Ethereum’s market capitalization, with cumulative net inflows since launch of $12.381 billion. Earlier reports (Dec. 16) showed larger single-day withdrawals ($224 million) led by BlackRock’s ETHA ($221 million) but left ETHA with substantial cumulative inflows ($12.87 billion) and the broader group with higher AUM ($18.172 billion). Taken together, the updates indicate ongoing short-term fund rotation across issuers rather than a broad, sustained withdrawal from spot-ETH products.

Neutral

The net outflows reported are modest relative to total AUM and cumulative inflows, and the data show rotation between ETF products rather than a broad sell-off of spot ETH. Key points supporting a neutral view: 1) The latest single-day outflow ($52.7M) represents a small fraction of total AUM (~$17.9B) and of Ethereum’s market cap (~5%). 2) Cumulative inflows since launch remain large (~$12.38B), indicating sustained longer-term demand. 3) Outflows have been concentrated in specific issuers (Grayscale ETHE, previously BlackRock’s ETHA), while other products (Grayscale mini ETH) attracted inflows, suggesting product-level rebalancing and investor preference shifts rather than directional bets on ETH price. Short-term impact: increased volatility for ETF-linked liquidity and possible minor selling pressure on spot markets during heavy redemption days. Long-term impact: limited — unless outflows accelerate and persist across multiple days, the structural demand provided by cumulative inflows and institutional adoption should anchor ETH price fundamentals. Traders should monitor daily ETF flow trends, AUM changes, and whether outflows broaden beyond specific funds as signals for shifting market sentiment.