Recent data reveals a concerning trend in the Ethereum spot ETF market. According to SoSoValue, on April 30th, Ethereum spot ETFs witnessed substantial net outflows totaling $2.3599 million. Fidelity’s FETH ETF led with a single-day inflow of $5.7953 million, accumulating a historic net inflow of $1.458 billion. Conversely, Grayscale’s ETHE saw the largest single-day outflow reaching $7.1321 million, pushing its overall historical net outflow to $4.291 billion. The current total net asset value for Ethereum spot ETFs stands at $6.17 billion. Notably, these ETFs hold a relatively small portion of the Ethereum market with an ETF net asset ratio of 2.85% compared to the broader market’s total worth of around 2.85%.