US-listed spot Ethereum ETFs posted a combined net outflow of about $49.7 million, a clear turn after earlier optimism around approvals and launch. The move came as ETH traded around $1,900 on February 23, 2026. Ethereum also stood down 36% year to date, which marked its worst start to a year on record.
The outflows hit several products, with different levels of impact depending on the fund. Trading volumes shifted during the same period, tracking the volatility and uncertainty around ETH. Analysts continued to review what drove the withdrawals and what they could signal for near-term positioning.
Spot Ethereum ETFs gave investors a regulated way to gain exposure to ETH. The products attracted institutional and retail interest after launch. However, their performance remained tied to broader crypto sentiment and to Bitcoin’s influence on risk markets.