U.S. spot Ether ETFs posted about $141 million of net outflows on Tuesday 15 September, the heaviest session in eight months, after taking in $121 million on Monday and as Bitcoin wrappers lost $450.4 million on the same tape. SoSoValue put the category at a $141 million net redemption. Other desks printed $142.3 million. BlackRock's iShares Ethereum Trust, ticker ETHA, led with $97.97 million to $98 million of outflows, taking ETHA's cumulative net inflow to about $13.00 billion. Bitwise ETHW lost $34.4 million. Grayscale's ETHE redeemed $17.5 million. Fidelity's FETH lost $7.2 million. The holdouts were BlackRock's staking product ETHB, which took $12.38 million and lifted its cumulative inflow to $857 million, and 21Shares' TETH, which added $2.4 million. Category net assets sat at $15.42 billion, about 5.25% of ether's market cap. Cumulative net inflows since the July 2024 launch were about $13.37 billion. Ether itself was down about 3% on some snapshots after Monday's $2,490 print. See how ETHA's $80.5 million of Monday buying already sat one session before this reversal.
A round trip is not a new trend, and staking is not the whole book
Tuesday ended a two-day inflow streak that began on 11 September. It was the largest one-day Ether ETF outflow since about 30 January. September is still net green. Through 15 September the category was about $303.4 million to the good for the month, well below August's $1.836 billion. Combined Bitcoin and Ether redemptions on Tuesday were close to $590 million. That is a risk-off print into the Fed, not a vote on staking. ETHB creating $12.4 million while ETHA lost $98 million is a product mix, not a floor under ether. The FOMC statement is 2:00 p.m. Eastern. CME FedWatch sits near 92% for a 25 basis point hike. If ETHA creates into a soft press conference, Monday's $121 million can still look like a pause. If the dots are hawkish and Bitcoin wrappers redeem again, $141 million is the first of a pair. For the Bitcoin side of that pair, see FBTC's $214.8 million and IBIT's $161.7 million. For the rate path those wrappers are pricing, see Warsh's 2:00 p.m. decision.