Crypto
Spot Ether ETFs Have Lost $955 Million This Month, 6% of Their Assets. Solana ETFs Lost $55 Million
US spot ether ETFs recorded net outflows of $954.8 million between October 1 and 16, according to SoSoValue, with a single day of inflows; net assets were $14.95 billion on October 16. Spot Solana ETFs lost $54.9 million, 3.4% of their $1.62 billion. Ether is down 18.4% this year and Solana 16.2%, against bitcoin's small weekly losses.
The money that flowed into ether and Solana funds through the summer is leaving faster than it is leaving bitcoin. US spot ether ETFs recorded net outflows of $954.8 million from October 1 to October 16, according to SoSoValue data compiled by 24/7 Wall St, with only one day of net inflows in the month, $24.8 million on October 13. On Friday, October 16 alone, $69.7 million left, all of it from BlackRock's iShares Ethereum Trust, the largest fund in the category. Net assets across the ether funds stood at $14.95 billion, so October's outflows amount to about 6.4% of everything they hold.
The Solana funds, which are a year younger and a tenth of the size, have lost proportionally less. Net outflows from October 1 to 16 were $54.9 million against net assets of $1.62 billion, or 3.4%; the last day of inflows was October 2, when $1.3 million came in, and October 16 saw $12.7 million leave. The Solana funds had recorded fourteen straight weeks of net inflows before October, by 24/7 Wall St's count, so the reversal is recent. Together the two categories have shed close to $1 billion in sixteen days, while the much larger bitcoin funds lost $82 million last week on $7.5 billion of trading.
The price action explains the flows, and the flows then weigh on the price. Ether fell to $2,313 on October 15, the day of the CPI report, and closed last week at $2,410, down 5.0%; it is down 18.4% in 2026 after a 29% gain over the past 90 days. Solana dipped to just above $100 on October 15 and again on Sunday, ended the week at $104.11, down 6.5%, and is 16.2% lower this year. Bitcoin's weekly loss was 2%. The two assets that attracted the most new ETF money in the third quarter are the two being sold hardest in the fourth, which is the usual order of things when a crowded trade unwinds.
The one scheduled catalyst is Solana's Alpenglow upgrade on October 21, a change to the network's consensus mechanism designed to cut transaction finality to a fraction of a second. Upgrades of this kind have a mixed record as price events; the Solana ETF inflow streak that ended this month was built on the expectation of exactly this sort of milestone, and the funds have now been selling into it for two weeks.
What the outflows do not show is panic. Six per cent of assets in sixteen days is a steady drain, not a run, and the daily figures are small against the funds' trading volumes. Whether the drain stops depends less on anything in crypto than on the Nasdaq, which both tokens have tracked all month.