US spot ether ETFs log $60.2M net outflow; BlackRock’s ETHA only fund in the red

The striking detail is the asymmetry: BlackRock's ETHA bled far more than the aggregate outflow, meaning redemptions were concentrated in the largest, most liquid vehicle rather than spread across the complex. That pattern points to a single large allocator adjusting exposure rather than broad-based sentiment turning, especially with Fidelity and the Mini Trust still attracting modest creations. With the ETF net asset ratio under 5% of ether's market cap, these flows remain a marginal rather than dominant price influence. Whether the concentration in ETHA persists or broadens across issuers is the open question.