US crypto ETFs shed a net $610.7 million in the week of October 12 to 16, 2026. Most of that came from the Ethereum funds rather than the Bitcoin funds: $320.1 million flowed out of them, and $299 million of that came from a single product, BlackRock’s iShares Ethereum Trust. That is 93.4 percent of the entire Ethereum outflow from one fund.

That distribution is the real finding of the week. A number like „$320 million in outflows“ sounds like a broad retreat by many investors. When 93 percent of it comes from one product, the picture changes: a single large position moved, while the market as a whole stayed put. If you hold crypto in Germany, that changes how you read the number, and it changes nothing about the fact that these…