BlackRock’s spot Ethereum (ETH) ETF recorded nearly $500 million in net outflows over the five trading sessions ending October 9.

The outflows from BlackRock’s iShares Ethereum Trust (NASDAQ: ETHA) accounted for most of the $542.2 million withdrawn from U.S. spot Ethereum ETFs over the same period, indicating sustained selling pressure across regulated investment products tracking the second-largest cryptocurrency by market capitalization.

The withdrawals extended the sector’s outflow streak to nine consecutive trading sessions, with cumulative net outflows approaching $700 million since September 29.

BlackRock’s ETHA recorded net outflows of $31.9 million on October 5, followed by $201.9 million on October 6 and…