On Friday, U.S. spot ethereum exchange-traded funds (ETFs) faced $54.27 million in outflows, a stark contrast to Thursday’s net inflow of $26.7 million, as indicated by recent data. Meanwhile, Grayscale’s Ethereum Trust (ETHE) has seen a reduction of over $2 billion in ethereum since July 23.

U.S. Ether ETFs Shed $54.27 Million on Friday

The outflow trend continued on Friday, following Thursday’s inflows. The nine ether ETFs have recorded three days of inflows and six days of net outflows in total. Friday’s $54.27 million outflow brought the cumulative decline since July 23 to $510.7 million, with Grayscale’s ETHE contributing the most significant portion of this decrease. Only two funds deviated from this pattern, with Fidelity’s FETH gaining $6.02 million and Franklin Templeton’s EZET adding $1.14 million, according to sosovalue.xyz stats.

Grayscale’s ETHE countered these gains with a $61.43 million outflow on Friday. ETHE has seen a total reduction of about $2.12 billion since July 23, holding approximately 2,004,828.01 ETH, according to the firm’s website. On Friday, six ETFs showed neither gains nor losses, while the funds collectively saw about $438.61 million in trade volume. Currently, these funds hold around $8.33 billion in ether, which accounts for approximately 2.29% of ether’s market value.

On X, Arkham Intelligence noted that ETHE outflows this week have dropped by nearly 80%. “Monday: 108.8K ETH ($367.6M) sent to Coinbase,” Arkham reported. “Friday: 24.9K ETH ($78.4M) sent to Coinbase. Is the selling almost over?” Arkham queried.