Ethereum ETFs Shed $184M Over 4-Day Losing Streak

Ethereum exchange-traded funds posted $184 million in outflows over four consecutive days through April 30, according to market data, as geopolitical uncertainty offset gains in U.S. equities. The outflows extended a losing streak that began earlier in the week, with the largest single-day exit occurring on April 29.

ETF Outflow Details

Ethereum ETFs posted $87.7 million in net redemptions on April 29, marking the largest single-day exit since March 26, according to SoSoValue data. Cumulative flows for Ethereum ETFs now stand at $11.9 billion, down from a peak of $12.9 billion in mid-January.

Bitcoin ETFs experienced similar pressure, shedding $476 million over the same four-day period ending April 30, with outflows peaking at $263 million on April 27. However, Bitcoin ETFs saw a $14.76 million inflow on Thursday. Cumulative net inflows for Bitcoin ETFs stand at $58.1 billion.

Price Action and Market Divergence

Despite the outflows, Ethereum’s price climbed 2.2% over the same period, trading at $2,313 on Thursday, per CoinGecko data. This divergence between ETF redemptions and spot price movement suggests that selling pressure on fund products has not translated directly to spot market weakness.

Broader Market Context

The outflows arrived as traditional markets reached new highs, with the S&P 500 hitting a fresh all-time high of 7,271, fueled by a rally in technology earnings. Oil prices remained elevated above $120 per barrel following the UAE’s exit from OPEC.

Geopolitical risks in the Middle East continue to cloud the outlook for risk assets. The U.S.-Iran conflict shows no signs of near-term resolution, keeping energy markets on edge and inflation expectations elevated. The Federal Open Market Committee maintained the benchmark interest rate at 3.5%–3.75% for the third consecutive meeting, citing elevated inflation fueled by rising energy prices.

Prediction Market Sentiment

On the prediction market Myriad, users see a 55% chance that Ethereum’s next major move reaches $3,000, up from 46% on April 30. On oil prices, Myriad users place a 70% chance on oil’s next move reaching $120 per barrel, down from 79% earlier that day. For U.S.-Iran diplomatic engagement, Myriad users place a 27% chance on a U.S.-Iran diplomatic meeting by the middle of the month, down from 36% earlier that day.