U.S. Spot Ether Funds Post $129.4 Million in Two-Day Outflows

U.S. spot Ether (ETH) funds recorded $129.4 million in net withdrawals over Oct. 19 and 20, extending the previous week’s outflows ahead of a scheduled activation of Ethereum’s Glamsterdam upgrade on a testnet.

The funds posted $103.3 million in net outflows on Oct. 19 and $26.1 million on Oct. 20. That followed $320.1 million in net withdrawals during the Oct. 12-16 trading week. The figures show that outflows continued through Oct. 20.

Glamsterdam is scheduled to activate on the Hoodi testnet at 1:42:48 p.m. ET (17:42:48 UTC) on Oct. 26. It activated on the Sepolia testnet Oct. 6. The upgrade is designed to change how blocks are built and validated, but developers have set no date for activation on Ethereum’s main network.

The Federal Reserve’s Oct. 27-28 policy meeting follows the scheduled Hoodi activation, giving markets another event to assess before November begins.