US spot Ethereum exchange-traded funds recorded $1.61 billion in net outflows in October, their worst monthly result since launch, according to data cited from SoSoValue. The decline stood out against a broader crypto fund picture in which several non-Ethereum products finished the month in positive territory.
US spot Bitcoin ETFs also ended October in the red, though on a smaller scale, with $515.03 million in outflows. Among other cryptocurrency ETF segments mentioned in the data, BNB products led inflows, while Solana-linked funds posted notable losses.
Ethereum funds posted their deepest monthly withdrawal
The October figure marked the largest monthly outflow yet for US spot Ethereum ETFs. The source article said the selling pressure was persistent throughout the month, with Ethereum funds logging weekly losses and the final week also closing negative.
The scale of the withdrawals made Ethereum the weakest major segment in the monthly comparison. While Bitcoin products also lost assets over the same period, Ethereum ETF outflows were substantially larger.
BlackRock and Grayscale accounted for most of the decline
The heaviest losses were concentrated in a small number of products. BlackRock’s iShares Ethereum Trust, trading under the ticker ETHA, posted $1.42 billion in outflows during October, making it the largest contributor to the category’s decline.
Grayscale’s Ethereum Trust, ETHE, followed with $119.08 million in outflows. Only two of the Ethereum funds named in the report finished the month with net inflows: Fidelity Ethereum Fund, or FETH, added $36.13 million, and Morgan Stanley Ethereum Trust, MSSE, brought in $3.73 million.
Bitcoin also ended the month negative
US spot Bitcoin ETFs were not immune to withdrawals in October, ending the month with net outflows of $515.03 million. Even so, the losses in Bitcoin funds were far below the $1.61 billion pulled from Ethereum products.
The article did not describe a broader catalyst for the moves, and the reported figures should therefore be read as fund-flow data rather than a confirmed explanation for investor behavior.
BNB led inflows while SOL products lagged
Outside the two largest crypto asset ETF categories, the monthly picture was mixed. BNB-linked funds recorded the strongest inflows among the groups cited, attracting $98.61 million over October.
SOL ETFs moved in the opposite direction, with $143.71 million in outflows. The source also said that in Hong Kong, spot Bitcoin ETFs and SOL funds posted declines, indicating that weakness was not limited to one market segment.
What the latest flow data shows next
The confirmed takeaway from October is that US spot Ethereum ETFs closed the month with their largest outflow on record, led by heavy withdrawals from BlackRock’s ETHA and Grayscale’s ETHE. Bitcoin products also finished negative, while BNB funds stood out as the strongest inflow category among the assets mentioned.
The next clear step is the release of fresh weekly and monthly flow data, which will show whether October’s record Ethereum withdrawals were a one-month event or the start of a longer trend.
Source: incrypted.com