Ethereum (ETH) dropped 16.06% in October, ending a three-month winning streak as spot Ethereum ETFs registered an all-time high monthly net outflow of $1.61 billion, according to data from SoSoValue.
Spot Ethereum ETFs Record $1.61 Billion Outflows
The $1.61 billion pulled from spot Ethereum ETFs in October surpassed the previous monthly outflow record of $1.42 billion set in November of last year. Data from SoSoValue reveals that the funds logged net inflows on only three trading days during the entire month: $24.84 million on October 13, $14.96 million on October 21, and $4.35 million on October 23.
These persistent redemptions reduced cumulative net inflows into spot ETH funds from $13.89 billion at the end of September to $12.29 billion by the close of October. Institutional selling accelerated alongside broader spot market pressure, mirroring institutional exits seen across spot Bitcoin ETFs following major market events.
Technical Rejections and Market Catalysts Drive Drop
ETH entered October following consecutive monthly gains of 18.52% in July, 32.60% in August, and 8.79% in September, which brought the asset up from its early July low of $1,500. However, an early October attempt to break past the $2,800 resistance mark failed, sending prices down toward $2,400 over the following week.
A subsequent recovery attempt stalled at $2,560 before macroeconomic pressure—triggered by the release of September CPI and PPI data—sent ETH down to $2,300 on October 15. After briefly pushing back to $2,520 on October 21, the asset cratered to a two-month low of $2,150 on October 30 following a market-wide plunge sparked by the $6.3 billion Binance hack. ETH managed a modest rebound to finish October at $2,250.
Despite the 16.06% decline, October was not ETH's worst month of the year. The altcoin experienced sharper monthly plunges earlier in 2026, dropping 21.69% in June, 19.63% in February, and 17.59% in January. Historical data highlights extreme volatility for November, with double-digit price moves in almost every year except 2015 and 2021, ranging from a 59% surge in 2020 to a 43% plunge in 2018. Much like Bitcoin snapping its October streak, Ethereum faces a challenging macro environment.
Key Takeaways
- ETH closed October down 16.06% at $2,250, ending three consecutive months of price gains.
- Spot Ethereum ETFs lost a record $1.61 billion in October, drawing cumulative net inflows down to $12.29 billion.
- SoSoValue recorded only 3 green inflow days in October ($24.84M, $14.96M, and $4.35M).
- Prices hit a two-month low of $2,150 on October 30 following inflation reports and exchange security concerns.
Why It Matters
The record $1.61 billion monthly outflow from spot Ethereum ETFs highlights institutional risk reduction amid macroeconomic uncertainty and crypto-native security incidents. With ETH failing to sustain overhead resistance at $2,800 and testing $2,150, market participants must watch whether institutional ETF flows stabilize in November. Given Ethereum's historical propensity for double-digit moves in November, holding support above the recent $2,150 low will be vital to prevent further market structure breakdown.
