Key takeaways Ethereum ETFs lose $103.3 million in one session Bitcoin funds attract $526.7 million during the same period ETH faces $2,300 downside risk before October's Fed meeting Ethereum
Ethereum faces a potential decline toward $2,300 ahead of the Federal Reserve's October 28 policy decision, as investors continue withdrawing money from US spot ETH exchange-traded funds despite a recovery in Bitcoin ETF demand.
According to Farside Investors' ETF data, Ethereum funds recorded $103.3 million in net outflows on October 19, including $95.4 million from BlackRock's ETHA. Bitcoin ETFs, meanwhile, attracted $526.7 million during the same session, creating a divergence of roughly $630 million between the two asset classes.
ETH traded near $2,420 in October 19 market snapshots, below the $2,500 psychological threshold. The latest ETF figures raise questions about whether corporate Ethereum accumulation can offset weaker demand from investment funds.
Ethereum ETF Outflows Reach $103 Million While Bitcoin Attracts CapitalEthereum's October 19 withdrawals marked its fourth consecutive negative ETF session, extending the combined outflows from October 14–19 to approximately $362.8 million.
The latest withdrawals followed another $320.1 million in weekly ETF losses between October 12 and 16.
BlackRock accounted for most of Monday's decline, while Fidelity's FETH lost $6 million and Grayscale's ETHE recorded $1.9 million in withdrawals.
The contrast with Bitcoin is particularly notable. While ETH funds continued losing capital, Bitcoin ETFs recorded their strongest daily inflows in several weeks, suggesting that institutional investors were favoring the larger cryptocurrency during the latest recovery.
An earlier market selloff had already pushed Ethereum below $2,500, as rising bond yields and leveraged liquidations affected cryptocurrencies.
<iframe src=”https://widgets.coincodex.com/w/71c1e962-f4d2-4fbe-94b2-9067e5d6aed9?site=coinpaper&mode=light” width=”100%” height=”420” frameborder=”0” referrerpolicy=”no-referrer-when-downgrade” style=”border:0;background:transparent;border-radius:0px;”></iframe>Bitmine Holds 6.04 Million ETH Despite Weak Institutional DemandThe ETF withdrawals contrast with continued accumulation by Bitmine Immersion Technologies, the largest publicly traded Ethereum treasury company.
In its October 19 SEC-filed update, Bitmine reported purchasing another 12,535 ETH, increasing its holdings to 6,041,481 tokens.
The company now controls approximately 4.9% of Ethereum's circulating supply, with around 5.07 million ETH already staked.
However, Bitmine's reported combined assets fell from $16.2 billion to $15.1 billion over one week, even as the company accumulated additional tokens.
The treasury decline demonstrates how falling cryptocurrency valuations can outweigh continued purchases.
Bitmine's proximity to its stated 5% ownership objective also creates uncertainty about the durability of this source of corporate buying. The company could eventually stop accumulating once that threshold is reached, although it has not confirmed an exact date.
Ethereum Price Prediction: $2,300 Downside or $2,500 Recovery?Ethereum's immediate outlook centers on the $2,350–$2,370 area, which has featured prominently in recent trading analysis.
A decisive move below that zone could expose $2,300, particularly if ETF withdrawals continue and financial conditions tighten ahead of the October 28 Fed decision.
A decline through $2,300 would also weaken the technical recovery that followed ETH's earlier liquidation-driven selloff.
Alternatively, reclaiming $2,500 would strengthen the case for a recovery toward $2,600, with $2,700 becoming a possible subsequent objective if buying momentum improves.
Those levels represent conditional scenarios rather than guaranteed price targets.
The broader market remains sensitive to Federal Reserve policy, with inflation concerns and elevated Treasury yields affecting demand for risk assets. Recent macroeconomic pressure has repeatedly complicated Ethereum's attempts to establish a sustained recovery.
