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Investment outflows from the Fidelity Ethereum Fund (FETH) exceeded $25 million on Oct. 1, marking a new all-time high in daily outflows among all other United States-based spot Ether exchange-traded funds (ETFs), excluding the Grayscale Ethereum Trust (ETHE).
On Oct. 1, the spot Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="" target="_self" text="null" title="https://cointelegraph.com/ethereum-price">ETH</a>) ETFs saw cumulative outflows of $48.6 million across nine issuers. FETH, ETHE and the Bitwise Ethereum ETF (ETHW) contributed $25 million, $26.6 million and $0.9 million in outflows, respectively.
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 <img alt="Fidelity Ethereum ETF records largest daily outflows since launch" name="" src="https://s3.cointelegraph.com/uploads/2024-10/01924c7a-558c-7be5-9d55-2c37640ece1f">
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 Source: <a data-ct-non-breakable="null" href="https://x.com/FarsideUK/status/1841323173255561589" rel="null" target="null" text="null" title="https://x.com/FarsideUK/status/1841323173255561589">Farside Investors</a>
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The only ETH ETFs to record positive inflows were 21Shares’ Core Ethereum ETF (CETH) and the VanEck Ethereum ETF (ETHV), which brought in $1.2 million and $2.7 million, respectively. The rest reported no change.
<h2 id="grayscale-holds-record-for-daily-outflows">Grayscale holds record for daily outflows</h2>
Despite Grayscale’s ETHE continuing to hold the record for daily outflows, Fidelity’s milestone underscored the pressure on the ETH ETF market. Still, FETH remains the second-highest in total investments, at $453.5 million.
BlackRock’s iShares Ethereum Trust (ETHA) leads in total investments, surpassing $1.14 billion as of Oct. 1.
<figure>
 <img alt="Fidelity Ethereum ETF records largest daily outflows since launch" name="" src="https://s3.cointelegraph.com/uploads/2024-10/01924c7a-b07f-755d-9869-505f946f80c4">
 <figcaption style="text-align: center;">
 Spot Ether ETF total flow of investments. Source: Farside Investors
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Despite consistent inflows recorded by other players over the last three months, Grayscale outflows are closing in on the $3 billion mark. As a result, total investments in spot Ether ETFs in the US now show a $572 million deficit.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitwise-files-xrp-etf" rel="null" target="null" text="null" title="null">Bitwise files XRP ETF trust registration in Delaware</a>
<h2 id="bitcoin-etfs-mimic-ethereum-outflows">Bitcoin ETFs mimic Ethereum outflows</h2>
The spot Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) ETF market followed a similar trend, recording <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-etfs-largest-outflow-in-nearly-month-iran-israel-conflict" rel="null" target="null" text="null" title="null">aggregate outflows of $242.6 million</a> on Oct. 1. This also marked the largest outflows in almost a month since Sept. 3.
The Fidelity Wise Origin Bitcoin Fund recorded the largest outflow at $144.7 million, followed by the ARK 21Shares Bitcoin ETF, which saw an $84.3 million outflow.
<figure>
 <img alt="Fidelity Ethereum ETF records largest daily outflows since launch" name="" src="https://s3.cointelegraph.com/uploads/2024-10/01924c7b-06b4-78fd-9432-3f6e95faccbe">
 <figcaption style="text-align: center;">
 US spot Bitcoin ETF total flow of investments. Source: Farside Investors
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Spot prices for Bitcoin dropped almost $4,000 after Iran’s missile attack on Israel late on Oct. 1 but had rebounded to $61,750 at the time of publication.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/advanced-ai-system-already-self-aware-asi-alliance-founder-agi/" rel="null" target="null" text="null" title="null">Advanced AI system is already ‘self-aware’ — ASI Alliance founder</a>

Fidelity Ethereum ETF records largest daily outflows since launch

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