Ether Trades on Both Sides of $2,400 for Six Days as ETF Outflows Continue

Ether (ETH) traded above and below $2,400 in each of six UTC sessions through Tuesday, while U.S. spot Ether ETFs extended their outflow streak to five trading sessions.

On Coinbase’s ETH/USD market, Ether fell to $2,369.51 during the Oct. 20 UTC session before closing at $2,446.62 at 8 p.m. ET Tuesday (00:00 UTC Wednesday). It also finished the Oct. 17 UTC session below $2,400, at $2,399.68. The six days of trading on either side of the level do not establish that it held as a floor throughout the period.

The ETFs recorded $26.1 million in net outflows Tuesday, following $103.3 million Monday. Withdrawals across the five U.S. trading sessions from Oct. 14 through Oct. 20 totaled $388.9 million.

BlackRock’s ETHA had $33 million in outflows Tuesday. Inflows of $3.6 million into Fidelity’s FETH and $3.3 million into Grayscale’s ETH offset part of that withdrawal.

The latest sessions extend an earlier stretch of trading below $2,400 and ETF withdrawals. Tuesday’s close put Ether back above the level, although its intraday low remained below it.