Ethereum ETFs Just Logged Their Worst Month Since Launch — While XRP Funds Quietly Took Inflows
The headline split
Crypto funds did not move together last week — they split. US spot crypto ETFs posted a combined $701.27 million in net outflows for the week, but the damage was concentrated: Ethereum funds lost $431.53 million, Bitcoin funds lost $202.59 million and Solana funds lost $71.47 million, while XRP spot ETFs attracted $4.32 million in net inflows — the only one of the four categories to take in money. Ethereum alone accounted for roughly 61.5 percent of the gross outflows from the three losing categories. That split matters more than the total: when one asset's funds bleed while another's attract money, the market is not simply de-risking — it is choosing.
Ethereum's record October
The weekly numbers sit on top of a worse monthly picture for Ethereum. US spot Ethereum ETFs lost $1.61 billion in October, their largest monthly outflow since launching in July 2024, topping the previous record of $1.42 billion set in November 2025. The exits ended a three-month inflow run and came in all five weeks that ended during October, with the heaviest week — the one closing October 9 — seeing $542 million leave. The price followed the flows: ETH fell 16.1 percent in October, its weakest October since 2016. Solana funds set an unwanted record of their own, losing $143.7 million in October, their largest monthly outflow since debuting in October 2025, after only one previous monthly outflow, $786,577 in June.
What Friday's session added
The last trading session before the weekend sharpened the picture. US spot Bitcoin ETFs recorded $643 million in net outflows on Friday, their first session after the Binance hack, while spot Ethereum ETFs saw about $156 million leave. Bitcoin itself held up better than the flows suggested: it traded around $78,200–$78,400 on Monday after finding support near its 100-day average around $77,831, with resistance at the 50-day average near $80,307 and the Relative Strength Index near 40 — below the neutral 50, so momentum still leans bearish even as price stabilises. ETH traded near $2,294, up about 1.3 percent over 24 hours. US demand on spot exchanges still looked soft: the Coinbase premium index fell to about -0.21 on October 29, its lowest since February, before recovering toward -0.13 — still below zero, meaning US spot prices traded at a discount to global prices.
Why XRP stood alone
XRP's $4.32 million weekly inflow is small in absolute terms, and nobody should over-read one week. But its direction is the story: in a week when every other major spot category lost money, XRP funds were the only ones gaining. One plausible reading is rotation rather than conviction — money leaving larger, more crowded trades and parking in a smaller category — and one week cannot prove a trend. What it does prove is that ETF flows are no longer a single crypto trade. Investors are discriminating between assets, and the discrimination is now visible in the flow data itself, not just in prices.
What to watch next
Three signals will show whether this split deepens or reverses. First, early-November ETF flows and the Coinbase premium: a return toward zero or above would signal US demand coming back after October's record exits. Second, whether ETH can reclaim $2,400, named by analysts as the first major sign of strength. Third, the week's macro calendar — Tuesday's US midterm elections and Friday's October jobs report — which could move every risk asset at once and swamp asset-specific flows. Until then, the honest summary is this: crypto's institutional money is leaving, but it is leaving selectively, and Ethereum is bearing the brunt.
FAQ
Which crypto ETFs lost money last week? Bitcoin (-$202.59M), Ethereum (-$431.53M) and Solana (-$71.47M); combined outflows were $701.27M.
Which crypto ETF category gained? XRP spot ETFs, with $4.32 million in net inflows — the only gainer of the four.
How bad was Ethereum's October? US spot Ethereum ETFs lost $1.61 billion in October, their worst month since launching in July 2024, as ETH fell 16.1%.
What happened on Friday? US spot Bitcoin ETFs saw $643 million in net outflows and Ethereum ETFs about $156 million, in the first session after the Binance hack.
What is the Coinbase premium telling us? It fell to about -0.21 on October 29, its lowest since February, before recovering toward -0.13 — still negative, so US spot demand remains soft.
Does one week of XRP inflows prove a trend? No — it is a small, single-week signal of rotation, not a confirmed trend.
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This article is market news and general information only, not financial advice.
