Ethereum is facing mounting pressure as investors continue to pull funds from Ethereum ETFs amid market pullback.
Summary
- Ethereum ETFs saw $219.37 million in outflows, marking the fifth straight day of redemptions.
- BlackRock’s ETHA led the exit with $111.08 million, followed by Grayscale’s ETH with $68.64 million.
- Ethereum price trades at $3,300, with a 33.8% rise in trading volume signaling renewed interest.
Ethereum ETFs have now recorded five consecutive days of outflows, highlighting a persistent wave of investor pessimism amid worsening market sentiment. According to data from SoSoValue, over $219.37 million was withdrawn from Ethereum-based exchange-traded funds in the past 24 hours alone, led by some of the market’s largest asset managers.
BlackRock’s ETHA saw the largest outflow at $111.08 million, followed by Grayscale’s ETH product which lost $68.64 million. Additionally, Fidelity’s FETH and Grayscale’s ETHE recorded outflows of $19.86 million and $19.78 million, respectively.
Five other issuers including 21Shares, Bitwise, VanEck, Invesco, and Franklin Templeton saw no activity, further highlighting the market’s cooling enthusiasm for the funds. Similarly, Spot Bitcoin ETFs have also recorded five days of consecutive outflows, with the latest being $577.74 million.
This continued capital flight comes as Ethereum faces increasing downward pressure in the broader market, with roughly $2 billion liquidated in the past day. The failed narrative of “Uptober,” compounded by macroeconomic uncertainties and the ongoing U.S. government shutdown, has led many investors to take profits or reduce exposure to volatile assets like ETH.
Ethereum ETF outflows come amid price decline
Crypto.news data shows Ethereum is currently trading at $3,300, marking a modest 0.42% gain over the last 24 hours. Despite the slight recovery, the asset remains far below recent highs, having dropped to a multi-week low of $3,160 earlier this week. Analysts believe the rebound reflects reduced selling intensity, though a clear bullish reversal remains elusive.
Trading volume has surged 33.75% to $74 billion in the last day, indicating fresh interest from both buyers and sellers. The Relative Strength Index (RSI) now hovers at 30.03, just above the oversold threshold, suggesting that selling pressure may be cooling. Meanwhile, the Average Directional Index (ADX) at 24.36 points to a moderately strong trend still biased toward the downside.
Technically, ETH must hold above the $3,200–$3,250 zone to avoid further declines. If it can stabilize, resistance levels around $3,400 and $3,520 could offer the next upside targets. However, renewed bearish momentum could push the price back to $3,160 or even to $3,000, a key psychological and technical support level.
As Ethereum ETFs continue their five-day outflow streak, market participants remain on edge, watching for signs of stability or deeper correction across the crypto space.