US spot Ethereum (ETH) exchange‑traded funds (ETFs) recorded a net outflow of $1.61 billion in October, the biggest monthly withdrawal since the products launched in July 2024.
Outflows break three‑month inflow streak
The October outflows ended a three‑month period of net inflows. Weekly data from SoSoValue shows that each of the five weeks ending in October posted net withdrawals, with the largest weekly outflow of $542 million occurring in the week ending October 9.
Impact on fund assets
Before October, the ETFs had accumulated $3.05 billion in net inflows from July through September. During October, total net assets fell from $17.60 billion to $13.22 billion, reducing cumulative net inflows to $12.29 billion.
Comparison with other crypto ETFs
US spot Solana (SOL) ETFs also experienced a record outflow, losing $143.7 million in October, their largest monthly withdrawal since debut.
Ethereum price and market indicators
Ethereum’s price dropped 16.1% in October, marking its weakest performance for the month since 2016, according to CryptoRank. The Coinbase Premium Index for ETH fell to about –0.21 on October 29, the lowest level since February, before recovering slightly to around –0.13.
As of the latest data, ETH was trading near $2,294, up 1.26% over the previous 24 hours.
Outlook
Analysts noted that ETH’s price was hovering just below a level identified as a potential trigger for further downside. Early November ETF flow data and the Coinbase premium will be watched for signs of renewed US demand.
