Ethereum ETF Outflows Hit $170 Million in Three Days as ETH Slips Toward $2,300

Three trading sessions, $170.21 million out the door. That is how much investors pulled from US spot Ethereum funds between October 26 and October 28, according to SoSoValue data cited by crypto.news, and the Ethereum ETF outflows landed just as ETH lost its grip on $2,350. By Thursday morning the token traded near $2,318, down a little more than 2% on the day.

The selling did not happen in a vacuum. The Federal Reserve held rates on Wednesday, and Bitcoin, which briefly climbed above $81,000 after the decision, slid back under $80,000 overnight. These are the figures that explain the week so far.

Eight figures from a rough week for ether

• $88.58 million: net outflow from spot ETH ETFs on October 26, the largest of the three days.
• $60.22 million: net outflow on October 27.
• $21.41 million: net outflow on October 28, a sign the selling slowed but did not stop.
• $44.83 million: what BlackRock's ETHA fund alone lost on October 28.
• $12.55 billion: cumulative net inflows into the funds since launch, per SoSoValue.
• $14.27 billion: total net assets held by the spot ETH ETFs.
• $2,293.44: the intraday low ETH touched before buyers pushed it back above $2,300.
• 3.75% to 4.00%: the federal funds range the Fed left unchanged on October 28.

Why the ETHA number stands out

BlackRock's fund is the biggest in the group, so it tends to set the tone. On October 28 its $44.83 million exit was roughly twice the net outflow for all spot ETH funds combined, which means at least some rival products took in money that day. That detail matters: the selling looks concentrated in one fund rather than spread evenly.

It also fits a pattern. Between October 12 and 16, ether funds lost about $320.1 million, crypto.news reported, compared with roughly $228.4 million from Bitcoin ETFs over the same stretch, with ETHA responsible for about $299 million of the ether total. For a much smaller asset, that is a heavier hit. For the Bitcoin side of the story, see our look at $635 million in Bitcoin ETF outflows on October 22.

The Fed decision that turned a bounce into a slide

Brave New Coin reported that the Fed's statement upgraded its description of the economy from "solid" to "strong" and said inflation "remains elevated." The vote was 10 to 2, and both dissenters, Governor Lisa Cook and Cleveland Fed President Beth Hammack, wanted a quarter point increase rather than a hold. Fed Chair Kevin Warsh gave no commitment on a December move.

Crypto traders read that as hawkish. In a CoinPaprika snapshot at 03:34 UTC on Thursday cited by Brave New Coin, Bitcoin sat near $79,732, ether near $2,303 and XRP near $1.29, with the total crypto market worth about $2.80 trillion, down 1.41%. Markets reacted in a similar way earlier this month when a hot CPI print set off liquidations, and again when Bitcoin dropped below $80,000 on Middle East headlines.

What the chart levels say about $2,300

Traders quoted by crypto.news are watching a support band of $2,290 to $2,300. Below it, the next floors sit near $2,200 and then about $2,100. On the upside, $2,400 and $2,500 are the first hurdles. Analyst Daan Crypto Trades flagged $2,350 as the level to reclaim, with $2,550 as tougher resistance. The late September high was close to $2,800, which leaves ETH roughly 17% below it.

The upgrade calendar is not helping sentiment either. On October 23 the Ethereum Foundation postponed activating the Glamsterdam upgrade on the Hoodi testnet, which had been set for October 26, over compatibility concerns tied to EIP-8037. No new Hoodi date or mainnet schedule has been announced. If you are new to how the network and its upgrades work, our Ethereum explainer covers the basics.

One number to keep in mind: even after this week, spot ether funds still sit on $12.55 billion in net inflows since launch. The next real test for rate sensitive assets comes at the Fed's December 8 to 9 meeting. More market coverage lives on our crypto page.