U.S ETH spot ETFs lose $36M for 2nd straight day – What’s fueling the outflows?

• Ethereum ETFs logged $10M, bringing whole outflows up to now two days to $100M 
• Is the declining CME ETH yield behind the continued outflows? 

The U.S. Ethereum [ETH] ETFs logged one other $35.89M each day outflow on 6 March, marking the second day of bleed-out. The renewed risk-off sentiment adopted a quick pause on Tuesday, after 8-day consecutive outflows. 

Supply: Soso Worth

General, ETH ETF traders have withdrawn over $400M from the product within the final two weeks.

This starkly differed from the steady inflows seen in early February. Particularly because the market rout deepened amid the continuing Trump tariff wars.

ETH CME yield drops

In February, ETH ETFs noticed comparatively larger inflows than BTC ETFs – A development Coinbase analysts linked to irresistible excessive yield from CME ETH foundation commerce. 

For the unfamiliar, the commerce entails establishments shopping for spot ETH ETF and opening a corresponding quick on CME Futures to pocket the worth distinction (yield). 

Supply: Velo

In line with Velo, the ETH yield surged to eight% in direction of the top of February and was marked by sturdy ETH ETF flows.

In March, nevertheless, the yield dropped to six%. This might dent urge for food for carry commerce and ETH ETFs. The truth is, the thought was bolstered by the CME Futures Open Curiosity (OI) price too. 

The OI has been steadily declining in 2025, slipping from $3.18 billion in January to $2.15 billion in March, suggesting slight unwinding or carry-trade gamers closing positions. 

Supply: The Block

Nevertheless, the broader weak market sentiment hasn’t made issues higher for the king altcoin. As such, the altcoin’s draw back danger may stay at giant. 

From a technical perspective, ETH appeared to be at a pivotal intersection of range-low and long-term trendline help above $2000. A breach beneath the extent may alter the upper timeframe market construction and merchants’ curiosity within the altcoin. 

Supply: ETH/USDT, TradingView