US spot Ethereum exchange-traded funds (ETFs) saw outflows surge to $1.61 billion in October, the largest monthly withdrawal since these funds launched in July 2024. The October total surpassed the previous record of $1.42 billion in outflows set in November 2025, marking a sharp reversal after three months of net inflows.
Five weeks of outflows and declining assets
Data from SoSoValue indicates that Ethereum ETFs in the United States recorded net outflows in each of the five weeks ending in October. The most significant weekly outflow occurred in the week ending October 9, with $542 million withdrawn from the funds.
The sequence of weekly outflows followed a combined inflow of $3.05 billion during the July through September period. By the end of October, cumulative net inflows had fallen to $12.29 billion, while total net assets dropped from $17.60 billion to $13.22 billion.
Fund activity is just one indicator of investor demand and does not provide a full account of trading conditions for Ethereum, whose price can also be influenced by broader market factors and sentiment shifts.
October’s ETF outflows saw total net assets fall to $13.22 billion from $17.60 billion over the month, with the $1.61 billion withdrawal setting a new monthly record for US spot Ethereum funds.
Solana ETFs and sector-wide flows
US spot Solana ETFs experienced outflows as well, recording a loss of $143.7 million in October. This marked the largest monthly withdrawal for Solana ETFs since their launch in October 2025. Apart from a modest outflow of $786,577 in June, this was the most significant change in Solana ETF flows to date.
Solana is a blockchain platform known for its fast transaction speeds and low fees, positioned as a competitor to Ethereum in decentralized applications.
Mini dictionary: Solana is a high-performance blockchain supporting decentralized applications and crypto projects, recognized for scalability and rapid finality.
Market signals during October
Ethereum’s price dropped 16.1% in October, according to CryptoRank, marking the token’s weakest October since 2016. During the same period, CryptoQuant’s Coinbase Premium Index—a metric that tracks demand disparities between US and international markets—fell to approximately -0.21 on October 29, its lowest level since February. The index later recovered toward -0.13 but remained below zero throughout the month.
| Measure | Reading | Period |
|---|---|---|
| US spot Ethereum ETF net flows | -$1.61 billion | October 2026 |
| ETF net assets | $13.22 billion, down from $17.60 billion | During October 2026 |
| ETH price change | -16.1% | October 2026, CryptoRank |
| Coinbase Premium Index | About -0.21, later around -0.13 | October 29, then recovered; remained below zero |
The assets and net flow figures provide distinct perspectives on market activity and do not explain the underlying drivers of investor withdrawals or price movements.
The data on fund flows, weekly outflows, and the Coinbase Premium Index reflect a challenging month for Ethereum investors, but do not reveal specific causes for these shifts or predict future trends.
Analysts’ outlook and November expectations
Market analysts offered differing views for Ethereum’s outlook. More Crypto Online noted that a break below $2,295 could trigger additional declines, with support identified between $2,207 and $1,725. Ted Pillows stated that a move back above $2,400 would be the first major positive signal for ETH. The bearish trend was seen as intact while the token remained below $2,522. These analyst levels do not constitute investment advice or guarantee future movements.
Historical data from CryptoRank shows ETH’s median return in November has been -1.90% and its average return +4.04%, highlighting the variability in previous years and offering only a statistical perspective, not a forecast.
October’s fund flows set a new benchmark for Ethereum ETF activity in the United States. Early November data on ETF flows and demand indicators like the Coinbase Premium Index are expected to provide further clues about the direction of US investor interest in ETH.
