Ether traded below $2,600 on Thursday, Oct. 8, with Yahoo Finance’s ETH-USD feed showing $2,548.21 at 10:42:18 UTC. U.S. spot Ethereum ETFs logged their seventh consecutive session of net outflows in the latest available data, shedding $160.9 million on Oct. 7.
Farside Investors’ daily flow table puts net withdrawals across those seven sessions at $568.8 million from Sept. 29 through Oct. 7. Its latest row remained Oct. 7 at the time of writing, before the next U.S. trading-day update.
BullBuzz has already covered Bitcoin’s third ETF inflow week and the later oil-and-yield risk-off move. Those reports set the broader market backdrop; this story follows a separate Ethereum demand signal in the daily fund data.
Ethereum ETF Outflows Stretch to Seven Sessions
Farside reports net daily flows in U.S. dollars. The totals below combine the listed spot ETH products:
- Sept. 29: -$2.8 million
- Sept. 30: -$59.6 million
- Oct. 1: -$55.4 million
- Oct. 2: -$37.4 million
- Oct. 5: -$50.8 million
- Oct. 6: -$201.9 million
- Oct. 7: -$160.9 million
The final two sessions made up $362.8 million, about 64% of the seven-session total. Oct. 6 was the largest withdrawal in the run, followed by Oct. 7.
Net flows measure the balance of money entering and leaving the listed products. The series cannot be read as a dollar-for-dollar tally of ETH sold on exchanges, and it does not identify why investors redeemed shares.
Bitcoin ETF Flows Show a Broader Reversal
The cross-market comparison shifted within a day. Bitcoin spot ETFs attracted $118.8 million on Oct. 6, when ETH ETFs lost $201.9 million. On Oct. 7, BTC funds recorded $484.9 million in net outflows and ETH funds lost $160.9 million, according to Farside’s bitcoin ETF table and its ether data.
The Oct. 7 print points to selling across both major crypto ETF groups; ETH’s longer withdrawal run is the distinguishing signal. Higher oil and Treasury yields add context, but daily ETF totals do not isolate the cause of Ether’s decline.
BitMine’s Buying Cap Raises a Demand Question
Another source of ETH demand is approaching a self-imposed ceiling. BitMine’s Oct. 5 treasury update put its holdings at 6,016,414 ETH, about 4.9% of the 122.1 million ETH supply, after acquiring 15,112 tokens over the previous week. At TOKEN2049 on Oct. 7, chairman Tom Lee said the company planned to stop buying at a 5% target, roughly 100,000 ETH away, according to CoinDesk’s report.
CoinDesk estimated the remaining purchases could take six to seven weeks at the previous pace, assuming that pace continues. The company described a cap on new purchases and has made no sale announcement. Any effect on demand would come from a slowdown or end to accumulation; CoinDesk did not report a BitMine liquidation.
BitMine’s plan concerns future accumulation and cannot account for the full Oct. 7 price move on its own. It gives traders a second demand measure to track alongside daily ETF flows.
Why Ether Remains Below $2,600
Current data show three pressures at once: $568.8 million in cumulative ETH ETF outflows, negative fund flows across BTC and ETH on Oct. 7, and a large corporate buyer nearing a self-imposed acquisition cap. The timing overlaps with wider risk-off markets, so ETF redemptions alone do not explain the entire price move.
At the 10:42:18 UTC snapshot, Ether was $51.79 below $2,600. The round-number threshold offers no guaranteed floor. The next flow update and the price response around that level will show whether selling pressure is easing.
What Traders Should Watch Next
- Farside’s next daily ETH flow row, and whether net withdrawals continue after Oct. 7.
- Ether’s response around $2,600; a brief move above the level differs from sustained trading over it.
- Bitcoin ETF flows alongside ETH data, to see whether outflows remain broad or turn ETH-specific again.
- BitMine’s next treasury disclosure and any change in its buying pace as the 5% target approaches.
A single positive flow print would break the seven-session sequence, while a sustained change in flows and price would offer stronger evidence that demand is improving. For now, Farside’s Oct. 7 data show persistent withdrawals and Thursday’s price snapshot leaves Ether below $2,600.