U.S. spot Ethereum exchange-traded funds attracted roughly $2.85 billion of net subscriptions in the week to Aug. 15, the largest weekly intake since the products launched in January and nearly double their cumulative inflows from the first half of the year. Bitcoin spot ETFs gathered a comparatively modest $548 million during the same period. The momentum reversed at the start of the new week. Fund-flow trackers show Ethereum vehicles lost $196.6 million on Aug. 18 while Bitcoin products shed $121.7 million. Withdrawals accelerated on Aug. 19, when Bitcoin ETFs bled $523.3 million and Ethereum ETFs a further $422.2 million—marking the second-biggest single-day outflow for Ether funds and lifting the two-day total for both assets to more than $1 billion. Individual disclosures highlight large redemptions by marquee issuers. BlackRock’s iShares Ethereum Trust sold about 19,500 ETH valued at up to $87 million on Aug. 18. A day later Fidelity’s Ethereum fund offloaded 36,250 ETH, or roughly $156 million, while its Bitcoin ETF redeemed 2,180 BTC worth about $247 million. Ark 21Shares booked a separate sale of 560 BTC, or $64 million. The outflow streak coincided with a broader market pullback that pushed Bitcoin below $113,000 and Ether to around $4,100. Despite the volatility, assets under management across U.S. crypto ETFs remain near record levels, leaving analysts split on whether the moves represent short-term profit-taking ahead of key macro-economic events or the start of a deeper rotation out of digital assets.