U.S. spot Ethereum exchange-traded funds recorded $428.5 million in outflows on Monday, marking the sharpest single-day capital flight since September 5, when ETH funds shed $446.8 million.

BlackRock's ETHA suffered the largest outflow with $310.1 million exiting on Monday, while Grayscale's ETHE posted $21 million in withdrawals, and Fidelity's FETH saw $19.1 million flee, according to Farside Investors data.

Ethereum ETFs attracted $488 million in net inflows the previous week, part of a $3.17 billion surge into Bitcoin and Ethereum products that pushed year-to-date crypto fund deposits to a record $48.7 billion, per a report from CoinShares shared with Decrypt.

Those flows reversed course with President Donald Trump's announcement of 100% tariffs on Chinese goods on Friday, triggering the largest liquidation event in crypto history with an estimated $19 billion to $30 billion in leveraged positions wiped out within 24 hours.



“Monday's outflows are the aftershocks from Friday's tariff-driven selloff," Illia Otychenko, Lead Analyst at CEX.IO, told Decrypt. “The market tone has turned defensive, with many investors preferring to wait for clearer macro signals before stepping back in."

The “macro reflex” behind the recent withdrawals doesn’t point to deeper weakness, Bitnunix analyst Dean Chen told Decrypt, noting how “institutional positioning remains intact” after roughly $488 million in ETH ETF inflows the prior week.

Chen described the Monday withdrawal as a “stress response” driven by short-term macro jitters, adding only if outflows “persist over the next few sessions” would it signal a deeper repositioning.

"The coming sessions will reveal whether this was a passing tremor or the start of a deeper rotation,” he added.

Markets stabilized over the weekend after Trump adopted a more conciliatory tone on Sunday, suggesting trade tensions would resolve while characterizing Xi Jinping's export restrictions as a temporary misstep.

ETH has been fluctuating between the $3,900-$4,200 range throughout the day, down 3.4% in the last 24 hours according to CoinGecko data.

Ethereum’s “relatively strong” fundamentals and the lowest leverage ratio since May point to a “healthier setup” for recovery, Otychenko said, noting the recent pullback remains limited despite broader caution.

"Ether registered bullish divergences on the daily RSI and MACD, signaling that buying momentum is starting to increase after the recent selloff," he noted. "This could provide short-term support for price action as the market stabilizes."

On Myriad, the prediction markets platform developed by Decrypt's parent company DASTAN, users place just an 8% chance on the Crypto Fear and Greed Index reaching 55 or above—signaling Greed—by Wednesday.

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