Spot Ether ETFs Extend Outflow Streak to Eight Sessions Totaling $641M
Combined monthly outflows across US spot crypto funds have neared $1 billion as spot Ether products suffered eight consecutive days of net redemptions.
US spot Ether exchange-traded funds recorded $72.5 million in net outflows on Thursday, extending their continuous losing streak to eight consecutive trading sessions. Data from Farside Investors indicates that total withdrawals from Ether funds reached $641.3 million since the sequence began on September 29.
The broader market for crypto ETFs saw combined October net outflows reach $986.3 million, with spot Ether accounting for $578.9 million and spot Bitcoin funds shedding $407.4 million. Bitcoin products contributed $244.1 million to Thursday's withdrawals after a $484.9 million exit on Wednesday.
The institutional redemptions coincided with softening crypto valuations, with Bitcoin dipping to $80,427 before trading around $82,506. According to Glassnode, a revival of ETF purchases and higher spot volume are necessary to confirm underlying market support.
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