As I made my PhD in chemistry I should know a tiny bit about. So you might know that Ethanol holds roughly 4 % water. Below that level it will take up water from the air. This is called azeotrope. So this mixture tends to reach this azeotropic composition. If air is accessible within the engine or the tank I do not know. It would be interesting to know if the Ethanol used as fues is - expensive - pure EtOh or the cheaper azeotrope.
Jim
Jim