On October 16, spot ETH ETFs reportedly saw net outflows of around $69.68 million. ETH also briefly fell below $2,400, before reports showed its price recovering to around $2,422.
For now, the more cautious view is that sustained buying support remains unconfirmed; a single break below a key level is not enough to establish a trend. Several public discussions cited similar outflow figures, but they have yet to be verified against official ETF data. Spot BTC ETFs were also reported to have seen net outflows of around $82.39 million during the same period, so the pressure was not limited to ETH.
There were also claims that nearly all of ETH’s outflows that day came from a single product, and that net outflows had continued for three consecutive trading days. These details remain unverified and do not, on their own, show whether investors were rebalancing or continuing to withdraw funds.
The next things to watch are official flow data, whether outflows persist, and whether the price can hold above $2,400. If net outflows continue, can a brief move back above that level really be considered stabilization?
For now, the more cautious view is that sustained buying support remains unconfirmed; a single break below a key level is not enough to establish a trend. Several public discussions cited similar outflow figures, but they have yet to be verified against official ETF data. Spot BTC ETFs were also reported to have seen net outflows of around $82.39 million during the same period, so the pressure was not limited to ETH.
There were also claims that nearly all of ETH’s outflows that day came from a single product, and that net outflows had continued for three consecutive trading days. These details remain unverified and do not, on their own, show whether investors were rebalancing or continuing to withdraw funds.
The next things to watch are official flow data, whether outflows persist, and whether the price can hold above $2,400. If net outflows continue, can a brief move back above that level really be considered stabilization?