US spot Ethereum ETFs finally caught a bid on October 13, taking in $24.84 million of net creations and ending a run of ten consecutive outflow sessions that started September 29, according to SoSoValue data. Grayscale's Ethereum fund did most of the lifting with $16.73 million of subscriptions, while Fidelity's FETH added $8.11 million. The pair accounted for essentially the whole day's net inflow.

The streak it ended was genuinely rough. October 6 alone saw $201.89 million leave ETH funds and October 7 lost another $160.77 million — $362.66 million out the door in two sessions, which means yesterday's $24.8 million print covers roughly one-seventh of a single bad day, not the hole itself.

Against the full category the number is even smaller. ETH ETF cumulative net inflows since launch stand at $13.20 billion with $15.83 billion of total net assets, so October 13's inflow equals about 0.16% of assets under management.

For perspective, Bitcoin ETFs took in $175.62 million the same day — seven times what Ethereum attracted. Fidelity's FBTC captured $103.1 million of that on its own, with BlackRock's IBIT adding $65.9 million. Solana funds went the other way, posting a seventh straight day of withdrawals at roughly $1 million out of Bitwise's BSOL. Across the three categories the combined net flow was $199.42 million, of which Bitcoin claimed 88% and Ethereum 12.5%.

Why it matters

ETF flows are the cleanest window into regulated institutional demand for crypto, and the October tape shows exactly where that demand lives: Bitcoin, not Ethereum. Over the trailing 30 days, BTC funds absorbed more than $2 billion of fresh liquidity while ETH vehicles bled $192 million net. Ethereum's problem is not that nobody wants regulated crypto exposure — it is that the buyers are overwhelmingly choosing BTC. ETH changing hands at $2,499 sits 41% below the $4,245 it traded at a year ago and roughly 49% under its $4,950 all-time high from August 2025, while the ETH/BTC ratio languishes near 0.0299.

One green day does not change that picture. Ten would.

What to watch

  • Whether the inflow repeats. One positive session after ten red ones needs confirmation; two or three more green days would be the first evidence of genuine demand returning.
  • The delayed September CPI. The Bureau of Labor Statistics pushed the report to October 24 because of the US government shutdown, so the inflation read traders are waiting on lands four days before the October 27-28 FOMC meeting — a compressed window for repricing.
  • The exit queue. Ethereum's validator unstaking queue has hit 964,608 ETH, a 10-month high worth about $2.4 billion at current prices, a potential supply overhang regardless of ETF flows.
  • The $2,390 neckline. A daily close under it would confirm the bearish head-and-shoulders setup some traders are tracking; holding above the 50-day average near $2,500 keeps the structure neutral.

MarketRadar take

Neutral with a constructive tint. The streak breaking is genuinely good news for ETH sentiment — ten red days in a row had become the story — but the numbers do not yet describe a rotation back into Ethereum. Bitcoin absorbed seven times the flow on the same day, Solana's bleed continues, and a 0.16%-of-assets inflow does not erase a $360 million two-day hole. Watch the next three sessions: consecutive green days plus a hold above $2,500 would be the first real sign of a turn; another red print would mark October 13 as a one-day blip.