Ethereum traded near $2,562 on October 7, down about 5.5% over the previous 24 hours, as U.S. spot Ether ETFs stretched a run of daily redemptions to six consecutive sessions. According to live Ethereum market data and SoSoValue fund-flow figures, BlackRock’s iShares Ethereum Trust (ETHA) accounted for the entire $202 million in net outflows on October 6, with a single redemption of $201.89 million, while Bitcoin funds drew $119 million over the same session.
Farside Investors confirmed the Ether ETF outflow at $201.9 million, showing no net movement in other tracked Ether products. The gap between the two largest crypto assets’ fund flows has become the clearest driver of Ethereum’s recent price action, with ETH underperforming Bitcoin as institutional money favors the leading asset. Bitcoin slipped about 3.2% to near $83,371, while spot Bitcoin ETFs added roughly $118.8 million, led by BlackRock’s IBIT at $122 million.
The October 6 withdrawal was not an isolated print. Farside recorded $55.4 million of Ether ETF outflows on October 1, $37.4 million on October 2, and another $50.8 million on October 5 before the much larger redemption. A wider risk-off tone compounded the pressure, with major altcoins such as Cardano and Dogecoin down roughly 7% to 8% over the same stretch.
ETH gave up the $2,600 handle after trading near $2,712 as recently as October 5. That round level now sits as overhead, while the move leaves the asset testing the lower part of its recent range near $2,500. A recovery back above $2,600 would require a turn in fund-flow data, especially if ETHA flips to inflows; continued daily redemptions would keep pressure on the lower end of the range.
The next daily ETF flow print is the most direct signal to watch. The available evidence shows persistent ETF redemptions coinciding with a softer price, but it does not prove that spot holders are selling or that outflows are the sole cause of the broader crypto decline.
