Ethereum ETFs recorded $542 million in outflows in the week ended October 9, their largest weekly outflow since late January 2026. ETH has slipped below the 50-day SMA and $2,500 as exchange balances rise and futures demand cools.
Ethereum (ETH) fell more than 7% in the seven days leading up to October 10, as weak demand for spot ETFs produced their worst weekly performance since January. ETH trades at $2,491 after dropping 0.39% in 24 hours.
Trading volumes shrank by 61% to $7.2 billion, per data from CoinMarketCap.
Ether ETFs lose $542 million in a week
Data from SoSoValue shows Ethereum ETFs recorded outflows of $542 million in the week ended October 9, the highest weekly outflows since late January 2026.
BlackRock's iShares Ethereum Trust accounted for the biggest share, with $477 million flowing out. That is the highest weekly outflow by ETHA since December 2025.
Across the market, SoSoValue shows total outflows from all US-listed crypto ETFs were the highest since June, with Bitcoin (BTC) leading at $681 million.
Exchange balances climb as futures demand falls
Ethereum outperformed Bitcoin in Q3 with a 70% gain, and investors now seem to be booking profits. As a result, the ETH available on exchanges has reached its highest level since September 23.
CoinGlass shows the exchange balance rose from 11.71 million ETH on October 8 to 11.8 million ETH on October 9. Meanwhile, Ethereum's open interest dropped from 13.29 million ETH on October 8 to 12.77 million ETH at the time of writing.
RSI at 39 and the 50-day SMA turn technicals bearish
On the daily chart, the RSI fell to 39 for the first time since June. ETH has also dropped below the 50-day SMA.
With ETH trading below psychological support at $2,500, bears are eyeing a drop to the 100-day SMA of $2,200. That move depends on whether ETH breaches immediate support at $2,370.
If ETH defends $2,370, a sustained uptrend will depend on whether it can close above the 50-day SMA.
Source: CoinGape
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