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Ethereum witnessed one of the sharpest declines in October, despite the positive but brief start to the month, tanking by over 16%.
A large portion of those losses came because of the ETF outflows, which hit an all-time high, with over $1.6 billion leaving the funds.
<h2 id="eth-failed-in-october">ETH Failed in October</h2>
Similar to the <a href="https://cryptopotato.com/uptober-flopped-as-btc-tanked-7-will-november-be-any-different/" rel="noopener noreferrer nofollow">bitcoin landscape</a>, the leading altcoin entered October following three very successful months. After its early July low at $1,500, the asset rebounded swiftly during that month and ended it with a substantial 18.52% surge. Then came the mid-August breakout rally that drove the alt higher, posting a 32.60% surge. The streak extended in September with another 8.79% increase.
October indeed started with a minor leg up that pushed ETH close to the $2,800 resistance. The rejection there <a href="https://cryptopotato.com/bitcoin-rejected-at-87k-despite-soft-pce-and-jobs-data-as-qnt-night-explode-weekly-crypto-recap/" rel="noopener noreferrer nofollow">turned out to be fatal</a>, and the asset tanked toward $2,400 within the next week. The rebound was halted at $2,560 a few days later, and ETH saw another leg down to $2,300 on October 15 after the release of the CPI and PPI data for September.
The bulls hadn’t given up yet, propelling another surge to $2,520 on October 21. However, this attempt didn’t see much success, and the asset nosedived in the following week or so. The culmination took place on October 30 after the <a href="https://cryptopotato.com/this-is-what-binance-has-done-following-6-3b-hack/" rel="noopener noreferrer nofollow">massive Binance hack</a>, when ETH plunged to a two-month low at $2,150.
Despite rebounding slightly to $2,250 as October ended, the altcoin still finished the month with a 16.06% drop. What’s even worse for its broader situation is that this substantial decline was not even in the top three this year, as it plummeted by 21.69% in June, 19.63% in February, and 17.59% in January.
<figure style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2026/11/Screenshot-2026-11-01-091836.png" rel="noopener noreferrer nofollow"><img src="https://cryptopotato.com/wp-content/uploads/2026/11/Screenshot-2026-11-01-091836.png" alt="Ethereum Monthly Performance. Source: CoinGlass" width="1299" height="705"></a>
 <figcaption>
 Ethereum Monthly Performance. Source: CoinGlass
 </figcaption>
</figure>
November has been quite volatile for ETH, with all but the 2015 and 2021 editions seeing double-digit moves. The most extreme cases were the 59% surge in 2020 and the 43% plunge in 2018.
<h2 id="eth-etfs-to-blame">ETH ETFs to Blame?</h2>
Aside from the inflation data and the Binance hack, the other major reason for ETH’s substantial decline came from the Ethereum ETFs. Data from SoSoValue shows that investors pulled out $1.61 billion in October, the single-largest monthly net outflow since the ETFs’ inception. The previous record was last November, when the withdrawals hit $1.42 billion.
The funds saw only three days in the green in October, all of which were with modest net inflows: $24.84 million on October 13, $14.96 million on October 21, and $4.35 million on October 23.
The cumulative net inflows declined from $13.89 billion at the end of September to $12.29 billion a month later.
<figure style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2026/11/Screenshot-2026-11-01-092734.png" rel="noopener noreferrer nofollow"><img src="https://cryptopotato.com/wp-content/uploads/2026/11/Screenshot-2026-11-01-092734.png" alt="Spot Ethereum ETF Flows Monthly. Source: SoSoValue" width="1781" height="527"></a>
 <figcaption>
 Spot Ethereum ETF Flows Monthly. Source: SoSoValue
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</figure>
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The post <a href="https://cryptopotato.com/eth-plunged-16-in-october-as-ethereum-etf-outflows-hit-all-time-high/" rel="noopener noreferrer nofollow">ETH Plunged 16% in October as Ethereum ETF Outflows Hit All-Time High</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

ETH Plunged 16% in October as Ethereum ETF Outflows Hit All-Time High

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