TLDR
- Ethereum ETFs post $555.7M outflows over two weeks, first streak since April.
- Fidelity and BlackRock lead Ether ETF redemptions with over $180M withdrawn.
- Bitcoin ETFs record $446M in inflows after last week’s heavy outflows.
- Ethereum rebounds above $4,200 despite continued ETF withdrawals.
U.S. spot Ethereum ETFs have seen renewed pressure after recording two consecutive weeks of investor withdrawals, totaling about $555 million. The back-to-back outflows mark the first such streak since April, raising questions about cooling demand for Ether-based funds. This comes even as Ethereum’s price rebounded above the $4,200 mark, signaling a potential shift in sentiment among traders.
Two-Week Outflows Mark First Streak Since April
According to data from SoSoValue, nine U.S. spot Ethereum ETFs reported outflows of around $243.91 million in the week ending October 24. When added to the previous week’s redemptions, total withdrawals reached approximately $555.7 million over the two weeks.
Fidelity’s FETH led the latest outflows with $95.2 million withdrawn, followed by BlackRock’s ETHA, which saw $89.1 million in redemptions. Grayscale’s ETHE and ETH funds together lost nearly $50 million, while Bitwise’s ETHW and VanEck’s ETHV reported smaller outflows of about $10 million combined. The remaining Ether ETFs remained mostly unchanged during the same period.
Bitcoin ETFs Attract Inflows as Investors Rotate Exposure
While Ethereum funds faced withdrawals, Bitcoin ETFs saw a return of capital. Data shows that Bitcoin investment vehicles recorded $446.36 million in inflows across 12 funds last week. This recovery followed the $1.23 billion in net outflows seen the previous week.
Market participants said the shift could reflect investors rotating exposure between crypto assets amid macroeconomic uncertainty. Ether ETFs experienced outflows even as broader risk sentiment improved, suggesting that traders were cautious following earlier price weakness in October.
Investor Caution Follows Market Volatility and Economic Data
Analysts noted that the decline in Ethereum ETF demand may be tied to recent market turbulence and macroeconomic events. Ether struggled to regain momentum earlier in October after a series of sharp declines triggered by global risk-off sentiment.
Many investors stayed cautious ahead of the U.S. Consumer Price Index report released on October 24. The data showed headline inflation rising slightly from 2.9% in August to 3.0% in September, while core inflation eased to 3.0%. The results strengthened expectations of a Federal Reserve rate cut this week, with CME’s FedWatch tool showing a 96.7% probability of a 25 basis point reduction.
Ethereum Breaks $4,200 as Technicals Point to More Gains
Despite the ETF outflows, Ethereum’s price showed renewed strength. After dipping to around $3,880 on October 24, the token rebounded and broke through the $4,200 resistance level. As of press time, Ether traded near $4,229, gaining over 7% in the past 24 hours.
Market analysts said Ethereum’s chart structure now points toward another potential upward move. A crypto trader known as Pascal said, “Ethereum appears to be completing its internal Wave 4 pattern, often followed by a strong breakout.” Based on his Elliott Wave analysis, the next upward leg could target between $5,800 and $6,300 before a pullback toward $5,000.
Technical indicators also support the bullish setup, with a MACD crossover on the daily chart favoring momentum to the upside. Traders are now watching whether Ethereum can sustain its gains and extend the rally toward $4,600 in the short term, even as ETF investors remain cautious.
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