US Spot Ethereum ETFs Record $1.61 Billion October Outflow

October outflows reverse the Ethereum ETF trend

US spot Ethereum exchange-traded funds recorded $1.61 billion in net outflows during October, their largest monthly withdrawal since the products began trading in July 2024. The total exceeded the previous monthly record, $1.42 billion, set in November 2025. The reversal was notable after the funds had attracted money for three consecutive months, making October a sharp break from the recent inflow pattern.

Withdrawals were not limited to one difficult week: weekly data showed net outflows in all five weeks that ended during October. The largest weekly decline came in the period ending October 9, when $542 million left the funds. That sequence indicates the monthly result accumulated across the reporting period, rather than being explained solely by a single week’s movement.

The change followed a strong three-month stretch. From July through September, the Ethereum funds had gathered a combined $3.05 billion, according to the figures provided. During October, total net assets dropped from $17.60 billion to $13.22 billion, while cumulative net inflows declined to $12.29 billion. Those measures describe separate aspects of the funds: assets held and net money added since launch.

Signals from US demand and related funds

The flow reversal was not unique to Ethereum among the spot crypto funds mentioned in the report. US spot Solana ETFs lost $143.7 million in October, their largest monthly outflow since their October 2025 debut. Their only other monthly outflow was $786,577 in June. The Solana withdrawals were much smaller in dollar terms, but October was a record outflow month for both sets of funds.

A separate indicator of US trading demand also pointed to weakness. Ethereum’s Coinbase Premium Index fell to about -0.21 on October 29, its lowest reading since February. The index later moved back toward -0.13, but remained below zero in the reported data. The recovery from the low is a change in direction, not a return to positive territory, so the signal remained subdued.

Ethereum’s reported market price was $2,293.80, up 1.26% over the preceding 24 hours. CryptoRank’s November figure showed a 1.39% gain so far in the month. These short-term advances came after October’s 16.1% decline, which CryptoRank identified as ETH’s weakest October since 2016. The daily and month-to-date gains therefore do not erase the larger monthly fall described in the report.

Price levels and November indicators

The quoted price also sat just below a level identified by More Crypto Online. The analyst had described a break under $2,295 as a possible trigger for another downward leg, and ETH was trading just beneath that threshold in the report. More Crypto Online placed a support range between $2,207 and $1,725. These are analyst-marked levels, not confirmed outcomes or guarantees of where the market will move.

Ted Pillows identified a different threshold as an initial sign of strength: a recovery above $2,400. More Crypto Online’s bearish view, meanwhile, was said to remain in place while ETH stayed below $2,522. The levels outline how the cited analysts were framing price conditions, but they do not resolve the competing signals from recent gains, October fund withdrawals and the negative Coinbase premium.

For ETF watchers, the practical change is that the recent inflow streak has been interrupted and the cumulative net inflow figure has fallen. October’s $1.61 billion withdrawal is a record for these funds since their 2024 launch, while the decline in net assets shows the scale of the month’s reversal. The figures alone do not identify why investors withdrew money or establish whether the outflows will continue.

What the flow reversal establishes—and what it does not

The Coinbase measure adds context, but it should be read alongside rather than substituted for the ETF-flow data. Its move from about -0.21 toward -0.13 suggests some easing from the October 29 low, yet its continued position below zero indicates the reported premium had not turned positive. The article points to early-November fund flows and the premium as indicators to watch for evidence of a change in US demand.

CryptoRank’s historical November figures offer a mixed backdrop rather than a clear directional signal. Ethereum’s median November return is -1.90%, while its average return is +4.04%. The gap means the two summaries point in opposite directions; neither statistic by itself establishes what ETH will do in a particular November. The report provides no additional detail on the observations behind those historical measures.

Taken together, the report documents a record monthly outflow, weaker fund asset totals, a negative Coinbase premium and an ETH price near analyst-defined thresholds. It also records modest gains in November and a partial recovery in the premium from its low. Whether those early improvements mark a durable return of US demand remains unresolved; the next flow readings and premium data are the stated indicators for assessing that question.

Source: BeInCrypto