Ethereum
Spot Ethereum ETFs Record $542 Million in Weekly Outflows as Price Slides
United States spot funds experienced their heaviest weekly withdrawals since January while large holders continued accumulating tokens.
United States spot Ethereum exchange-traded funds recorded net outflows of approximately $542 million during the week ending October 9, marking their largest weekly redemptions since late January, according to SoSoValue data. BlackRock’s iShares Ethereum Trust accounted for roughly $477 million of that total, representing its highest weekly withdrawal volume since December 2025. Spot Bitcoin funds also saw redemptions of $681 million over the same timeframe.
Ether traded near $2,491 on October 10, dropping more than 7% over seven days as trading volume contracted by 61% to $7.2 billion. The price dropped below its 50-day simple moving average, placing market focus on support levels near $2,370 and around the 100-day moving average at $2,200. Additional pressure emerged as exchange balances rose by 90,000 ETH while futures open interest declined.
Despite the institutional outflows, large wallet accumulation provided a diverging signal. Analyst Ali Martinez reported that whale addresses acquired more than 166,000 ETH over a 72-hour period, alongside additions of roughly 15,000 BTC and 45 million XRP. The report observes that while large-scale buying can absorb circulating supply, sustained spot market demand remains necessary to counter fund outflows and broader selling.
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