Ethereum Nerves Show in Bitwise’s ETHW ETF as Outflows Top 4% of Assets
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The Bitwise Ethereum ETF, ETHW, recorded a sharp daily redemption on January 23, 2026, with investors pulling out $15.16 million. The move represents roughly 4.26% of the fund’s latest reported assets under management (AUM) of $356.1 million, signaling a notable bout of risk reduction among Ethereum-focused ETF holders.
The outflow, while not catastrophic in absolute terms, is sizable relative to the fund’s AUM and comes against a backdrop of mounting concern over Ethereum’s price trajectory and broader crypto market sentiment. Such a drawdown in a single day can indicate that larger holders are trimming exposure or locking in profits — or, more likely in the current environment, cutting losses as volatility persists.
The related asset, ETH-USD, is currently trading at $2,937.58, having shed about 25.03% over the last three months. Technically, the short-term picture remains fragile, with the 1-day signal flashing Sell, underscoring the cautious tone among traders. That combination of a pronounced three-month slide and a near-term bearish signal helps explain why ETF investors might be stepping to the sidelines.
Still, the outflows must be read in context: despite the recent redemptions, the Bitwise Ethereum ETF retains a substantial asset base, suggesting long-term conviction has not evaporated, even if tactical players are retreating. Much now depends on whether Ethereum can stabilize around current levels or if further weakness prompts additional selling pressure in both the spot market and associated funds like ETHW.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.