U.S. spot Ether ETFs recorded $130.6 million in total net outflows on May 12. This marks the second consecutive session of significant withdrawals for the asset class.
BlackRock’s iShares Ethereum Trust (ETHA) led the decline with a single-day outflow of $102.05 million. Despite this wave of redemptions, ETHA maintains a total historical net inflow of approximately $11.9 billion.
The outflows are weakening institutional buying channels and placing downward pressure on Ethereum’s price. Following the activity, BlackRock transferred a significant amount of Ethereum to a Coinbase-linked wallet.