U.S. Spot Ether Funds Post $1.61 Billion in Net Outflows in October
Key Facts
U.S. spot Ether funds recorded net outflows of $1.61 billion in October 2026, according to CryptodataAPI’s monthly data page, a sharp reversal from September’s inflows. The total covers 22 trading sessions from October 1 to 30, making it a full-month figure rather than a partial reading. Nineteen sessions ended with net outflows, while just 3 recorded inflows, according to the same source. The page said the funds saw net outflows during the month without attributing the move to a specific cause. Flows measure money moving into and out of investment products, while these figures alone do not reveal investors’ motivations.
Net inflows totaled about $831.3 million across 21 trading sessions in September 2026, according to CryptodataAPI. The monthly change from September to October was therefore negative $2.44 billion, as the balance shifted from positive flows to substantial net outflows. The reversal highlights the difference in flow direction across two consecutive months, as well as the widening gap in monthly totals. October saw just 3 positive sessions, which did not change the month’s overall trend of outflows. The monthly comparison provides context for the scale of withdrawals but does not by itself determine whether they resulted from a change in investor appetite or other factors.
The largest daily outflow came on October 6, when redemptions reached $201.9 million, according to a report published by The Block. The report said the entire amount came from the iShares Ethereum Trust, known by the ticker ETHA. That put the session at the top of the month for daily net outflows and indicated that the day’s recorded flow was concentrated in one product. The fund also carried out a one-for-three reverse stock split on October 6, according to a filing with the U.S. Securities and Exchange Commission. The filing said the split did not change the fund’s total net assets, distinguishing the share action from the asset movements measured by flows.
In the week ended October 9, U.S. spot Ether funds recorded net outflows of $542.1 million, according to The Block, which described it as the funds’ worst week since January. ETHA accounted for $477 million of that week’s outflows, or about 88% of the Ether category’s total, the report said. ETHA was the largest Ether fund by assets under management, according to the same source. These figures show that a large share of the weekly pressure was concentrated in the fund, while the remaining outflows were spread across other products in the category. Redemption data alone do not establish that the money moved into other assets, nor do they identify what prompted holders to withdraw.
October’s flows followed a 69.05% increase in the net asset value per share used in the iShares Ethereum Trust’s financial statements between June 30 and September 30, 2026, according to its filing with the U.S. Securities and Exchange Commission. The report linked the increase to a 69.11% rise in Ether’s price during the quarter ended September 30. Those figures relate to the quarter before October and describe the fund’s net asset value per share, not the category’s net flows in the following month. They therefore provide background on the fund’s asset-value movement in the prior period, while the monthly flow total remains a separate measure. In EL7 data, the ETHUSD pair closed at $2056.36 on November 11, 2026, after the monthly flow period covered in the report.
On network developments, the Ethereum Foundation said on November 6 that the Glamsterdam upgrade was still being tested on testnets. The Foundation said developers had postponed the Hoodi fork while they addressed issues that emerged during testing. The Foundation scheduled a meeting for November 19 to discuss the results of Glamsterdam reviews and possible next steps. It said the decision had not been predetermined, making the meeting a discussion of results and options rather than a confirmed announcement of a specific action. These dates mark a later development in the network’s roadmap, while the funds’ $1.61 billion outflow total remains specific to October flows.