Ethereum ETFs Extend Outflows as ETH Tests $2,400

Published: 2026-10-17 13:20:17 |

US spot Ethereum ETFs saw $85.4 million in net outflows on October 12, extending the sector’s outflow streak to nine consecutive days. BlackRock’s iShares Ethereum Trust (ETHA) accounted for $75.07 million. The week ending October 9 had already brought $542.1 million in net redemptions, the largest weekly outflow since January, with ETHA responsible for about 88%. ETH was trading near $2,500 on October 12, below its earlier October range of $2,600 to $2,715. Outflows continued later in the month: from October 14 to 16, US spot Ethereum ETFs lost a further $259.5 million. ETHA accounted for $223.9 million, or about 86%, including all of Friday’s $69.7 million in withdrawals. Still, cumulative net inflows into US Ethereum ETFs remained around $13 billion through October 16, compared with more than $12.7 billion in ETHA inflows since its 2024 launch. ETF redemptions reflect fund flows and do not establish that an equivalent amount of ETH was immediately sold on exchanges. Bitcoin ETF flows were mixed to positive during the earlier period, suggesting possible rotation between crypto assets. ETH fell to about $2,391 on October 16 and closed near $2,420. Analyst Alejandro Arrieche identified $2,400 as key support; a move above $2,600 could improve the prospect of a recovery towards $2,800, while continued Ethereum ETF outflows or a decisive break below support could increase selling pressure. Traders will be watching ETF flows and these price levels for signs of whether the decline is stabilising.

Bearish

The news is bearish for ETH in the near term because repeated spot Ethereum ETF redemptions point to weaker fund demand, while ETH has declined from its early-October range and is testing the closely watched $2,400 support level. Traders may treat persistent outflows or a clear break below support as reasons to reduce exposure, potentially adding to selling pressure. However, ETF flows do not prove that the redeemed ETH was immediately sold in the market, and cumulative US fund inflows remain around $13 billion. If outflows ease and ETH regains $2,600, sentiment could improve, with $2,800 identified as a possible recovery target. Over the longer term, the data therefore signals near-term caution rather than conclusive evidence of a lasting change in demand.