Ether falls below $2,600 as ETF outflows reach six days
Ether traded near $2,562 on Oct. 7, down 5.5% in 24 hours, while U.S. spot Ether ETFs recorded $202 million in outflows for a sixth straight session.
Ether traded near $2,562 on Oct. 7 after falling 5.5% over 24 hours. U.S. spot Ether exchange-traded funds recorded about $202 million in net outflows on Oct. 6, extending their outflow streak to six consecutive sessions, according to SoSoValue data.
BlackRock’s iShares Ethereum Trust, which trades under the ticker ETHA, accounted for nearly all of the withdrawals. The fund recorded $201.89 million in redemptions on Oct. 6.
U.S. spot Bitcoin ETFs recorded $119 million in net inflows on the same day. BlackRock’s iShares Bitcoin Trust, or IBIT, led the inflows with $122 million. Bitcoin traded near $83,371 on Oct. 7, down about 3.2% over 24 hours.
Other major digital assets also declined. Cardano fell about 8%, while Dogecoin dropped roughly 7% over the same period.
Ether traded near $2,712 on Oct. 5 before falling below $2,600. The $2,500 area marked the lower end of its recent trading range.
The next daily ETF flow report will show whether Ether funds continue to record net redemptions or return to net inflows. ETF flow data tracks investor activity in exchange-traded products and does not establish that spot-market Ether holders are selling.
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