US spot Ether ETFs post record monthly outflow as weekly withdrawal streak reaches 23

CoinMarketCap's Alexandria reports that the October drain, measured through Oct. 29, set a monthly record for the product category. Money left the funds on 18 of 21 trading days, and BlackRock's ETHA made up most of the withdrawals on Thursday.

Over roughly the same 30 days ETH fell about 17%. Its latest close was beneath the $2,300 level, a point it had not dropped under since August, and the price was testing $2,200. 24/7 Wall St. separately noted that Ether funds had seen 11 straight days of net outflows, while Bitcoin funds shed $643 million in a single session.

AMBCrypto says the weekly outflow run has now lasted 23 weeks, following an earlier period of robust demand. That item was available only as a summary, so detail is limited.

When investors redeem shares in spot funds, issuers generally need to dispose of the underlying coins, so continued exits reduce buying pressure and can weigh on the price. The sources do not establish whether the outflows drove the price decline or followed it.