US spot Ether ETFs have recorded outflows for nine trading days in a row, losing about $700 million over the streak and $635 million so far in October.
The largest single day came on 6 October, when $201.9 million left the funds. Friday added another $56.1 million.
Worse than Bitcoin, by a distance
Bitcoin ETFs are also in the red for the month, with net outflows of $386.3 million across October’s first seven trading days. That includes $484.9 million on Wednesday, their worst day since June.
The difference is scale. The Ether funds hold about $14.5 billion in total, so October’s outflows equal roughly 4.4% of their assets. The Bitcoin funds hold about $100.6 billion, so their outflows come to roughly 0.4%. Relative to their size, the Ether funds are losing money about 10 times faster.
Since launch, Ether ETFs have taken in a net $13.2 billion, against $57.6 billion for Bitcoin ETFs.
Solana too
The smaller Solana ETFs have had five straight days of outflows and are down $24.8 million for October. Their only inflow day this month was $1.3 million on 2 October. Net inflows since launch stand at $137.9 million.
Two sources of demand fading
The ETF selling comes as Ether loses another steady buyer. BitMine, the largest corporate holder of Ether, said this week it will stop buying once it owns 5% of the supply, which at its recent pace is about six to seven weeks away.
Ether trades near $2,530.
