Ethereum is having a rough October, and the money is quietly walking out the door.
US spot Ether ETFs have now seen money flow out for nine days in a row. Around $542 million was pulled in the last week alone — the worst week for these funds since January. Most of that selling came through BlackRock's ETHA fund, which accounted for the large majority of the outflows. With the big buyers stepping back, Ether's price has slipped below $2,500, and more traders are now betting on the price going down rather than up.
Ethereum is not alone in this. Bitcoin funds have also been losing money this month, and together Bitcoin and Ether ETFs have seen close to $986 million in net outflows so far in October. After the strong inflows of September, October has flipped the mood of the whole market from greedy to careful.
But not everyone is bearish. Well-known analyst Tom Lee has repeated his view that Ethereum could still cross $5,000 before the end of the year, and could go much higher over the full market cycle. His argument is that the current selling is short-term fear, while the long-term story for Ethereum — staking, DeFi and real-world use — has not changed.
So which side is right? In the short term, the ETF numbers are hard to argue with: while money keeps leaving the funds, every price bounce is likely to face selling. The level to watch is simple — if the outflows slow down or turn back into inflows, Ethereum usually recovers fast, because the same funds that sold will have to buy again. Until then, caution is the safer play.
This post is news reporting only, not financial advice. Crypto prices are volatile — always do your own research before investing.
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