Ethereum ended October 2026 down 16.06%, while US spot ETH crypto ETFs saw $1.61 billion in net outflows. A monthly record since their launch in July 2024. The second crypto on the market thus closes three consecutive months of increase, with a price returning to around $2,250. BlackRock concentrates the majority of withdrawals.
In brief
- Ethereum lost 16.06% in October after three consecutive months of growth.
- Ethereum ETFs see $1.61 billion in net outflows, an all-time high.
- BlackRock’s ETHA fund concentrates around $1.42 billion in withdrawals.
Ethereum loses 16% after three months of increase
October was expected to extend Ethereum’s rebound. The previous month, the crypto ETH had gained another 8.79%, after an increase of 32.60% in August and 18.52% in July. The turnaround was quick. From the start of the month, Ethereum ETFs were already showing signs of weakness. Capital outflows then accelerated, accompanying the fall in prices.
Ethereum had, however, started October approaching $2,800. The resistance held. In a few sessions, the crypto fell back towards $2,400.
An attempt to recover to $2,560 was not enough. On October 15, the publication of American inflation data accompanied a further decline towards $2,300. Buyers returned a few days later, allowing ETH to temporarily return to $2,520 on October 21.
The last week erased this rebound. On October 30, Ethereum fell as low as $2,150, its lowest level in two months, in a crypto market also shaken by the Binance hack.
ETH finally ends October around $2,250. The monthly loss reaches 16.06%. The decline, however, remains lower than the corrections of January, February and June, when the crypto lost 17.59%, 19.63% and 21.69% respectively.
Crypto ETH ETFs Lose $1.61 Billion
American listed funds had an even more difficult month. According to SoSoValue dataEthereum spot ETFs see $1.61 billion in net outflows in October. The previous record dates back to November 2025, with around 1.42 billion.
The balance sheet is particularly unbalanced. Out of 22 trading sessions, only three saw net inflows: $24.84 million on October 13, $14.96 million on October 21, and $4.35 million on October 23.
All other sessions ended in the red. The phenomenon had started before mid-October. Tremplin.io already reported $542.1 million withdrawn from Ether ETFs in one week, their worst weekly result since January.
BlackRock particularly suffered. Its iShares Ethereum Trust fund, known by the symbol ETHA, saw approximately $1.42 billion in net outflows during the month. Grayscale’s ETHE product lost almost 119 million.
Fidelity is an exception. Its FETH crypto ETF shows around $36 million in net inflows over October. In total, cumulative net inflows to Ethereum ETFs since their launch increased from $13.89 billion at the end of September to $12.29 billion at the end of October. These are financial flows, not just valuation losses linked to the fall in price.
Can Ethereum find buyers in November?
The month of November begins with several uncertainties. Ethereum ETFs ended October with five consecutive sessions of outflows. The last one, on October 30, represented approximately $155.7 million in withdrawals.
Investors will therefore monitor the first sessions of November to see if institutional flows stabilize. The price history also shows that November can hold significant movements. Ethereum gained 59% in November 2020, before experiencing a drop of 43% in the same month in 2018.
These performances do not allow us to predict those of 2026. The crypto market must also deal with the slowdown in purchases by certain companies. BitMine, one of the largest institutional holders of ETH, is notably approaching its goal of 5% of the total supply.
The company already held over 6 million ETH as of October 18. Once this ceiling is reached, its regular purchases should stop, according to the strategy announced by Tom Lee. The decline in ETFs and the slowdown in institutional accumulations could therefore leave fewer buyers to absorb new sales.
Ethereum nevertheless retains a large investor base and uses in decentralized finance, stablecoins and staking. After three months of increase, October marks a severe correction. Upcoming ETF data will help gauge investor appetite, as BitMine is already preparing to end its massive Ethereum accumulation. For ETH, the return of capital will be decisive in trying to regain the levels lost in October.
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