Ether Fund Outflows Exceed $1.18 Billion in October
Key Facts
Net outflows from U.S. spot Ether funds exceeded $1.18 billion from the start of October through Oct. 22, according to data cited in a Stakefish report. In trading sessions from Oct. 19 to 23, the same funds recorded net outflows of $220.6 million, according to SoSoValue data cited by Hodl Press. In the market, Ether closed at $2,389.14 on Oct. 22, then at $2,318.50 on Oct. 26, according to EL7 data. The price decline coincided with the outflow wave, but the sources do not establish that the outflows caused the currency’s drop. The figures show that monthly outflows topped $1 billion before the end of October, while the price continued to fall between the two recorded closes.
A Stakefish report said net outflows totaled $1.18 billion through Oct. 22, amid a reversal in fund flows during the month. This measure captures money flows over a specific period in October and does not represent total outflows since the funds launched. Hodl Press also reported that U.S. spot Ether funds recorded $220.6 million in net outflows during the period from Oct. 19 to 23. That figure covers a week of trading sessions, while the $1.18 billion figure spans the period from the start of the month through Oct. 22. The two figures therefore reflect overlapping time periods, not separate totals that can be added together. The weekly outflows coincided with Ether’s lower closing prices on Oct. 22 and 26, without establishing a causal relationship between them.
Alongside market activity, Ethereum developers postponed activation of the Glamsterdam upgrade on the Hoodi testnet after researchers raised concerns about proposed changes to gas calculations. CoinDesk said the changes could alter how some existing smart contracts handle failed transactions. Activation had been scheduled to begin on Oct. 26 at 17:42:48 UTC, but developers postponed it and did not announce an alternative date. The delay concerns testing the upgrade on Hoodi, while Ethereum’s roadmap showed the next Hoodi phase listed for Oct. 27. Glamsterdam’s activation on the mainnet had been expected in the fourth quarter of 2026, with no confirmed date.
Glamsterdam aims to expand Ethereum’s layer one by improving transaction processing and management of the network’s database, according to the foundation’s roadmap page. The Ethereum Foundation said repricing gas for state creation and access is intended to bring fees closer to the actual work these operations require. It noted, however, that a small group of smart contracts relies on assumptions that may change under the new fee schedule, potentially causing them to fail or perform worse if they are not updated in advance. It added that most identified issues can be fixed by raising the gas limit, and that the vast majority of smart contracts will not be affected. The upgrade was activated on the Sepolia testnet on Oct. 6 at 13:53:36 UTC, before the subsequent postponement on Hoodi.