Spot Ethereum ETFs closed October with $668M net inflows
October opened with a powerful “Uptober” rally but later faced heavy mid- and late-month outflows. Despite the volatility, U.S. spot ETH ETFs ended the month positive at $668.13M in net inflows, with monthly trading volume of $55.25B.
October started with firm inflows: the first three trading days delivered +$621.5M (Oct. 1: +$80.79M; Oct. 2: +$307.1M; Oct. 3: +$233.5M). In the second week (Oct. 6–10), inflows continued (+$489.5M), keeping the tape green.
In the third week (Oct. 13–17), the trend reversed with aggregate outflows of $311.8M amid the aftermath of the Oct. 10–11 sell‑off and ensuing deleveraging. Monday, Oct. 13, marked the sharpest single-day outflow (−$428.5M), partly offset by small inflows later in the week.
The fourth week (Oct. 20–24) also finished negative (−$243.9M). Although some funds posted modest inflows, the broader downtrend set by the market shock had not yet broken.
The fifth week (Oct. 27–31) ended slightly positive at +$16.3M. Tuesday, Oct. 28, was green (+$246.0M). Despite Fidelity (FETH) leading the rebound, weekly totals remained modest. 29 Oct printed −$81.4M; 30 Oct −$184.0M.
Even so, the month remained positive on a net basis.
Monthly dynamics of spot ETH ETFs. Source: SoSoValue
While BlackRock and Fidelity pulled the spot market into the green at the start of the month, the second half saw pressure from sizeable outflows at Grayscale and only modest, intermittent inflows at the largest issuers.
Overall, early‑October strength reflected a risk‑on tone and rising interest in ETH ETFs alongside higher activity in the Ethereum ecosystem. The sharp Oct. 10–11 shock triggered volatility and portfolio rebalancing, feeding the Oct. 13–17 outflows. Into the month‑end, macro factors (higher U.S. Treasury yields and Federal Reserve messaging that rates would stay high for longer) added caution.
Some investors rotated into BTC ETFs, which recorded $3.61B of net inflows in October.
Monthly trading volume in ETH ETFs reached $55.25B, and combined ETF holdings equal roughly 5.7% of ETH’s market capitalization. This underpins steady institutional demand for Ethereum and scope for larger capital flows ahead.
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