Ether ETFs lose $408M in six sessions as bitcoin funds draw $119M on Tuesday

US spot Ether exchange-traded funds bled for a sixth straight session Tuesday, losing around $408 million during the stretch. Spot Bitcoin funds recovered the same day with $119 million of new money.

ETHA’s $201.89 million exit was the largest since September 16

Ether funds were down $201.89 million on Tuesday, a sixth consecutive session in the red. BlackRock’s ETHA accounted for all of the outflows, and every other ether ETF saw no net flows.

Ether products traded $719.91 million. They now own $17.36 billion, or 5.27% of Ether’s market cap.

Trading volume rose by about $192 million from Monday’s $528.09 million. Ether funds’ combined holdings shrank by about $330 million from Monday’s $17.69 billion. Tuesday’s $201.89 million outflow was about four times Monday’s $50.76 million. None of the streak’s first five sessions lost more than $60 million.

The streak commenced with a $2.81 million outflow on September 29. Withdrawals of $59.58 million, $55.37 million, $37.36 million, and $50.76 million followed.

Tuesday’s outflow was the biggest one-day outflow since September 16, when funds lost $224.11 million. Net inflows to date fell to $13.55 billion since launch.

Cumulative inflows stood at $13.96 billion in the last session prior to the streak, on September 28.