Ethereum Outflows Test Investor Nerves as Bitwise ETF Sees 4% AUM Slide in a Day
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The Bitwise Ethereum ETF, ticker ETHW, recorded a sharp daily outflow of $15.16 million on January 23, 2026, as investors pulled capital amid renewed pressure on the underlying token. The redemption represents roughly 4.35% of the fund’s latest reported assets under management, which now stand at $348.9 million, highlighting a meaningful bout of risk-off positioning in a single session.
The move underscores how quickly sentiment can turn in Ethereum-linked products after a weak quarter for the world’s second-largest cryptocurrency. A withdrawal of this size in one day suggests that a segment of ETF holders is either locking in prior gains or cutting exposure as volatility returns to the broader digital-asset market.
The related asset, ETH-USD, is currently trading at $2,956.45, down about 24.6% over the past three months, a slide that has eroded much of the optimism seen earlier in the cycle. The short-term picture is similarly cautious, with the 1-day technical signal flashing a Sell, suggesting momentum traders and systematic strategies may still be biased toward further de-risking.
While the latest outflow does not yet constitute a run on the fund, the combination of sizable redemptions, negative three-month performance and bearish near-term technicals will keep ETHW on watch lists as a barometer of institutional and retail appetite for Ethereum exposure. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.