Ethereum (ETH) Spot ETFs Log $69.7M Daily Outflow, Led by BlackRock’s ETHA

Update 07:46 UTC: Across the five sessions from October 12 to 16, Ethereum (ETH) funds shed $320.1 million in total, with four negative days and one positive one: Tuesday brought $24.8 million in creations before Wednesday's $129.5 million exit, the heaviest single session of the week.

BlackRock’s ETHA Carries Friday’s Whole Outflow

The US spot Ethereum ETF group recorded a net outflow of $69.7 million on Friday, October 16, its third consecutive day of net withdrawals since the streak began on October 14. Ethereum (ETH) price moved little while the money left: the coin trades near $2,428, down about 0.5% over the past 24 hours as of Saturday. A net outflow means redemptions exceeded new creations across the complex that day, and because these products hold ETH outright rather than futures contracts, sustained redemptions translate directly into coins sold from trust reserves.

One product carried the whole figure. BlackRock’s ETHA, the largest fund in the complex, shed $69.7 million on its own, and no product in the group recorded an inflow at all. Daily flow disclosures compiled by Farside confirm nothing arrived from new subscriptions on Friday; every dollar of net movement was money leaving. Spot ETFs hold their assets directly, which makes the daily creation and redemption ledger the cleanest public read on institutional demand for the asset.

The tape and the trend agree for Ethereum (ETH) this time. Our composite readings put spot at $2,421.65, up 0.15% over 24 hours, with the trend reading as a downtrend and RSI at 38.42 alongside a bearish MACD signal. The strongest resistance overhead sits at $2,596.82 and scored 90 out of 100, built from the BB Middle, R3, the 0.214 Fibonacci and the Ichimoku Kijun, with a second shelf at $2,535.49 close behind on 89. Below, the strongest support at $2,379.97 carried a perfect 100, drawn from the BB Lower, EMA 100, S1 and the 0.382 Fibonacci. Positioning leans long but not aggressively: the long/short account ratio stands at 2.33, with 70.0% of accounts long, perp funding barely positive at 0.0052%, and open interest near $9.95B. Sentiment sits at 55 on our Fear and Greed scale, in Greed territory. A decisive close under $2,379.97 would put the $2,276.98 level to work, while a break above $2,596.82 opens the path past the $2,535.49 cluster. Our full Ethereum technical analysis tracks these levels session by session (as of 21:19 UTC).

October Reverses September’s Inflows

The longer arc puts the streak in context. Since the funds listed in July 2024, cumulative net inflows across the US spot Ethereum (ETH) ETF complex total $12.97 billion. BlackRock’s ETHA holds $12.49 billion of that on its own, while Grayscale’s ETHE has paid out $5.49 billion since launch, the largest cumulative outflow in the group. The next-largest lifetime balances sit in ETHB at $885.2 million, Bitwise’s ETHW at $392.5 million and VanEck’s ETHV at $153.3 million.

The monthly swing is stark. October has produced $955.1 million in net outflows through the 16th, against $831.3 million in net inflows across the whole of September, a swing of nearly $1.8 billion between the two months. We flagged the acceleration when second-day outflows of $60.22M landed, again led by the same BlackRock product.

The funds hold ETH outright, the asset of the market’s dominant altcoin, which pays for smart contract execution on its proof-of-stake network, where staking deposits secure the chain. Where the two series stand as the week closes: flows have printed negative for three sessions, $69.7 million on Friday and $320.1 million across five days, while Ethereum is down only 0.5% over the same day, after testing the $2,500 resistance this week. For now the demand channel and the price point in different directions, and the next round of daily disclosures will show whether the gap holds.

The weekly ledger adds weight to the streak. Across the five sessions from October 12 to 16, Ethereum funds shed $320.1 million in total, with four negative days and one positive one: Tuesday brought $24.8 million in creations before Wednesday's $129.5 million exit, the heaviest single session of the week. BlackRock's ETHA accounted for $299 million of the five-day figure, or 93.4% of the category's outflow. The rest of the group split in the other direction, as Fidelity's FETH drew $10.5 million over the week while Grayscale's ETHE lost $18.3 million, its Mini Trust shed $12.4 million, and Franklin Templeton's EZET gave up $900,000.