Ethereum exchange-traded funds (ETFs) have flipped back to outflows after just two days of recovery, signaling that investor confidence remains shaky as ETH’s price continues to battle near the $4,000 level.
According to data from SoSoValue, Ethereum ETFs saw $81.44 million in net outflows on October 29, ending a short-lived streak of inflows that had totaled nearly $380 million over the previous two days. The reversal suggests that traders are once again taking profits and reducing exposure amid renewed market uncertainty.
Among the issuers, Fidelity’s FETH led the day’s withdrawals with a hefty $69.49 million outflow. Grayscale’s ETH and ETHE followed with $16.18 million and $12.83 million, respectively. VanEck’s ETHV saw smaller redemptions of $4.31 million, while BlackRock’s ETHA was the only bright spot, posting a modest $21.36 million inflow.
Interestingly, some funds saw no movement at all — Bitwise’s ETHW, Franklin’s EZET, 21Shares’ TETH, and Invesco’s QETH all recorded zero activity. The uneven flows suggest a cautious market, where some investors are locking in profits while others prefer to stay on the sidelines.
The weakness isn’t limited to Ethereum. Bitcoin ETFs also took a hit, recording about $470.7 million in total outflows on the same day — their first major setback after four straight days of inflows. The widespread withdrawals across crypto ETFs hint at broader profit-taking as traders look to secure gains after a strong October rally.
Meanwhile, Ethereum’s price remains stuck below $4,000. At press time, ETH trades at $3,908, down 2.89% in 24 hours but still up 2.82% for the week, according to crypto.news. The coin has struggled to stay above the crucial $4,000 resistance zone, showing signs of cooling momentum.
Technical indicators confirm this slowdown. The Relative Strength Index (RSI) sits at 44.45, slightly under its signal line, showing a neutral-to-bearish setup. Similarly, the MACD indicator remains in negative territory, suggesting weak buying pressure.
For Ethereum to regain traction, it must close decisively above $4,000, which could pave the way toward $4,150–$4,200. But if the current weakness continues, analysts warn that ETH could dip toward $3,850 or even $3,750, where stronger demand previously appeared.
With ETF outflows back in play and technical momentum fading, the next few days could determine whether Ethereum can reclaim its bullish footing — or if more downside awaits.
