Ether Holds Near $2,570 as U.S. Spot ETF Outflows Reach $160.9M

Ether (ETH) traded near $2,570 early Thursday after U.S. spot Ether ETFs recorded $160.9 million in net outflows during the Oct. 7 trading session, adding pressure to an already weaker market.

ETH was listed at $2,567.34 at 2:09 a.m. ET (06:09 UTC) on Oct. 8, down 1.95% over 24 hours. The token closed at $2,574.14 on Oct. 7, down 4.57%, after moving between $2,542.50 and $2,699.79.

BlackRock’s ETHA accounted for $116.1 million of the latest ETF withdrawals, while Grayscale’s ETHE recorded $25.8 million. The outflow followed withdrawals of $201.9 million on Oct. 6, $50.8 million on Oct. 5, $37.4 million on Oct. 2 and $55.4 million on Oct. 1.

ETF net outflows occur when redemptions exceed creations during a trading session. The figures show investor withdrawals from the products but do not establish that ETF activity directly caused Ether’s price decline.