Ethereum ETFs See Biggest Outflows in Three Weeks
The outflows came alongside inflows into Bitcoin funds and weaker ETH/BTC performance. On-chain signals also point to more selling pressure around Ethereum.
Key Takeaways
- U.S. spot Ethereum ETFs saw $201.9 million in outflows on October 6, the biggest daily outflow since mid-September.
- Over six days, a total of $407.8 million left Ethereum funds, while Bitcoin ETFs pulled in a net $239 million over the same period.
- ETH fell to $2,617.76, with $164.88 million in long liquidations and possible support around $2,550.
The U.S. spot Ethereum ETFs saw $201.9 million (€179 million) in outflows on October 6, the biggest daily outflow since mid-September. That extended a six-day streak of withdrawals, while Bitcoin funds attracted money over the same period. ETH held up fairly well at first, but later came under pressure.
Six Straight Days of Outflows
According to SoSoValue, the streak started on September 29 and a total of $407.8 million (€362 million) left the funds. That is the longest outflow streak since the period from June 17 through June 30. Just before that, Ethereum ETFs had pulled in $850.8 million (€755 million) over seven straight trading days, so the recent withdrawals erased almost half of that inflow.
The move was not limited to Ethereum. Funds tied to Zcash and Solana also saw withdrawals, while Bitcoin ETFs attracted a net $239 million (€212 million) over the same six sessions. That points to a clear preference for Bitcoin over other major cryptos during this period. That shift fits into a broader pattern in which Ethereum ETFs lost their inflow streak, while Bitcoin funds kept buying.
ETH Lags Behind Bitcoin
The shift in ETF flows fits with Ethereum's weaker position versus Bitcoin. The ETH/BTC ratio has fallen in recent weeks, showing that Ethereum has been performing less strongly than Bitcoin. For institutional investors, that can be a sign that capital is temporarily moving out of ETH and into BTC.
Broader demand for ETH also looks weaker. The Coinbase Premium Index has stayed below zero since early September and is now at -0.007. That suggests buying interest on U.S. platforms has been limited, while the market has already been pricing in more selling pressure.
Support Around $2,550 (€2,260) in Focus
ETH still rose 0.33% on Binance between September 29 and October 6, but on Wednesday it still dropped to an intraday low of $2,591.71 (€2,300). At the time of writing, ETH was at $2,617.76 (€2,320), down 2.90% in 24 hours. That move came alongside heavy long liquidations, totaling $164.88 million (€146 million) in one day.
On-chain data also shows that more ETH could be coming back to the market. The validator exit queue now stands at 837,187 ETH, while the entry queue is still 1.41 million ETH but is shrinking. At the same time, there are still 14.7 million ETH on exchanges, down from about 21 million in mid-2025, which limits the available supply for selling.
For European crypto readers, the ETF flows are especially important because they give a clear look at institutional demand for Ethereum. If that demand stays weak while Bitcoin keeps seeing inflows, ETH's relative position in the crypto market could come under even more pressure. The next ETF numbers should show whether the outflow streak keeps growing.
