The iShares Ethereum Trust (ETHA) led all Ethereum spot ETFs in daily net outflows on May 20, 2026. Reported outflows for the single day ranged from $30.94 million to $59.37 million. This event marked the eighth consecutive day of net outflows for the broader Ethereum spot ETF sector.
Macquarie Group reduced its holdings in ETHA by 9.5% during the first quarter of 2026. The institutional investor disclosed the reduction in a recent 13F filing.
The combination of institutional selling and consistent outflows indicates bearish sentiment among both retail and professional investors. These developments occur as the price of Ethereum maintains a downward trend.