Woofun AI reports that U.S. spot Ethereum ETFs registered a net outflow of $29.9 million on June 29, marking the eighth consecutive trading day of capital departure. While aggregate figures show a clear exodus, the underlying data reveals a fractured landscape among major fund providers. BlackRock's ETHA product attracted a net inflow of $5.9 million, and Bitwise's ETHW added $5.3 million to its reserves. Grayscale's ETHE also secured a modest $2.1 million in new capital during the session.

These positive movements were decisively negated by severe withdrawals from other key players. Fidelity's FETH experienced a substantial outflow of $37.5 million, acting as the primary engine for the day's negative aggregate. Simultaneously, Grayscale's Mini ETH fund saw $5.7 million exit the product.

Woofun AI data shows that Fidelity's specific investor base is driving the sustained withdrawals, creating a divergence where some funds gain while others lose heavily.

The persistence of eight consecutive days of net outflows stands out against the generally volatile yet often positive flow history since the market's launch earlier this year. This streak suggests investors are actively reallocating capital or reducing exposure amid broader market uncertainty and potential profit-taking. The behavior indicates a period of consolidation within the Ethereum ETF space rather than a fundamental rejection of the asset class.

Market participants must view these flows as a signal of repositioning ahead of potential regulatory developments or macroeconomic shifts. Although BlackRock's ETHA continues to draw modest interest, the overwhelming pressure from Fidelity dictates the current market tone. This marks a distinct phase of caution for crypto investment products, where short-term flow data reflects shifting sentiment rather than long-term bearishness.