Ethereum ETFs Log Their Worst Month for Flows Since 2024 Launch
US spot Ethereum (ETH) exchange-traded funds (ETFs) lost $1.61 billion in October. That was their largest monthly outflow since launching in July 2024.
The exits ended a 3-month inflow run and coincided with a 16.1% drop in ETH. That marked its weakest October since 2016, per CryptoRank.
Five Straight Losing Weeks Broke Ethereum’s 3-Month Inflow Run
October’s total topped the previous record of $1.42 billion, set in November 2025.
Weekly data from SoSoValue shows outflows in all 5 weeks that ended during October. The heaviest week closed on October 9, when $542 million left the funds.
US Spot Ethereum ETF Weekly Net Flows. Source: SoSoValue
Before October, the funds had drawn a combined $3.05 billion from July through September. Total net assets fell to $13.22 billion from $17.60 billion during October. Cumulative net inflows slipped to $12.29 billion.
Solana funds hit a record of their own. US spot Solana (SOL) ETFs lost $143.7 million in October, their largest monthly outflow since debuting in October 2025. Their only other monthly outflow came in June, at $786,577.
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Ethereum’s Coinbase Discount Hit an 8-Month Low, Then Eased
US demand also looked soft on spot exchanges. The Coinbase Premium Index fell to about -0.21 on October 29, its lowest reading since February.
Ethereum Coinbase Premium Index. Source: CryptoQuant
It has since recovered toward -0.13 but remains below zero. ETH trades at $2,293.80, up 1.26% over the past 24 hours, per BeInCrypto Markets. It has gained 1.39% so far in November, per CryptoRank.
Ethereum Price Performance. Source: BeInCrypto Markets
Ethereum Sits Just Under the Line Analysts Flagged
That price leaves ETH at a level analysts flagged last week. More Crypto Online named a break below $2,295 as the trigger for another leg down.
It placed support between $2,207 and $1,725. ETH now trades just under that trigger.
Ted Pillows named reclaiming $2,400 as the first major sign of strength. More Crypto Online’s bearish view holds while ETH stays below $2,522.
CryptoRank’s November data points in two directions. ETH’s median November return is -1.90%, but the average is +4.04%.
Early November ETF flows and the Coinbase premium will show whether US demand returns after October’s record exits.
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