After just two days of inflows, Ethereum ETFs are once again seeing money flow out, showing that investors are becoming cautious as ETH’s price stays choppy.
The Numbers Don’t Lie
According to SoSoValue, Ethereum ETFs recorded $81.44 million in net outflows on October 29. That’s a sharp turnaround after two brief days of inflows totaling about $380 million — a sign that enthusiasm might be fading.
Here’s how it breaks down:
- Fidelity’s FETH led the outflows with $69.49 million leaving the fund.
- Grayscale’s ETH and ETHE followed, losing $16.18 million and $12.83 million.
- VanEck’s ETHV saw a smaller outflow of $4.31 million.
- The only bright spot was BlackRock’s ETHA, which actually brought in $21.36 million in inflows.
Meanwhile, four other funds — Bitwise’s ETHW, Franklin’s EZET, 21Shares’ TETH, and Invesco’s QETH — had no activity at all.
So overall, investors seem to be taking profits or reducing exposure after ETH’s recent volatility.
Broader Market Pullback
It’s not just Ethereum ETFs feeling the pinch. Bitcoin ETFs also saw major redemptions, with about $470.7 million in total outflows, ending a four-day streak of gains. That tells us this isn’t just an Ethereum story — the whole market is cooling off as traders lock in profits and wait to see what happens next.
Ethereum’s Price Struggles Near $4,000
At the same time, Ethereum’s price has been bouncing around just below a key level. At press time, ETH trades around $3,908, down about 2.9% in the last 24 hours, though it’s still up roughly 2.8% over the past week.
The chart shows a pattern of lower highs, meaning buying power is starting to weaken. ETH recently fell from around $4,250 and hasn’t been able to push back above $4,000 with confidence.
What the Indicators Say
The technical picture is mixed but leaning bearish:
- RSI (Relative Strength Index) sits at 44.45, just under the neutral zone of 50. That means momentum is fading, and sellers have a slight edge.
- MACD (Moving Average Convergence Divergence) also supports that view, with the MACD line at -68.13, still below the signal line at -80.37.
In short: ETH is stuck in consolidation, with neither bulls nor bears fully in control.
What to Watch Next
For Ethereum to regain strength, it needs to close above $4,000 — that’s the key line in the sand. A strong move above that level could spark new momentum toward $4,150 or even $4,200.
But if ETH fails to hold that ground, it could slide back to $3,850 or $3,750, where stronger demand was seen before.
Right now, sentiment looks shaky. ETF investors are pulling back, the charts show fatigue, and traders seem unsure about what’s next.
The next few days will tell us whether Ethereum can bounce back above $4,000 — or if this is the start of another correction.
