Key Insights
- Ethereum ETF flows recorded a fourth straight negative session, with $135.1 million leaving U.S. spot funds.
- ETH fell 2.2% to about $2,680 on Binance after trading as low as $2,650.88.
- Binance futures accounts stayed heavily long, while open interest recovered to $6.24 billion.
Ethereum ETF flows stayed negative for a fourth session on October 2, extending net withdrawals to $135.1 million since September 29. The streak accompanied a 2.2% decline in ETH over the latest 24-hour period.
The split matters because institutional demand weakened while leveraged traders kept a strong long bias. Binance data showed 74.23% of ETHUSDT futures accounts were net long by 14:00 UTC on October 3.
Ethereum ETF Flows Turn Negative for Four Sessions
Farside Investors data showed daily net outflows of $2.8 million on September 29. Withdrawals then accelerated to $59.6 million on September 30 and $55.4 million on October 1.
The October 2 session added another $17.3 million withdrawal. Fidelity’s FETH accounted for the reported outflow that day, while most other funds posted zero flow.
Fund-level data showed the selling was not confined to one product during the streak. FETH, BlackRock’s ETHA, VanEck’s ETHV, Franklin’s EZET, Grayscale’s ETHE and its lower-fee ETH fund all recorded withdrawals on at least one session.
The four-day reversal followed an $87 million inflow on September 25 and $17.1 million on September 28. That sequence points to a loss of near-term momentum, not a complete withdrawal of institutional participation.
ETF demand remains sensitive to rates and broader risk conditions. Fusion Market News previously examined how Treasury yields reversed after the U.S. jobs report, tightening the backdrop for crypto assets.
ETH Price Falls as Long Accounts Stay Crowded
ETH traded near $2,679.56 on Binance during the final check. The token was down 2.25% over 24 hours, with a $2,650.88 low and $2,743.86 high.
Binance’s account long-short ratio stood at 2.88. Long accounts represented 74.23% of accounts with open positions, compared with 25.77% for shorts.
The ratio measures account direction, not position size. It therefore shows how many accounts leaned long, but not whether their aggregate exposure exceeded short notional value.
Futures open interest reached $6.24 billion by 14:00 UTC. It had recovered from roughly $6.13 billion late on October 2 but remained below the prior day’s $6.53 billion reading.
The most recent settled funding rate was 0.000093%, effectively neutral. That limits evidence of an expensive long squeeze despite the crowded account count.
The combination is still fragile. A renewed price decline with rising open interest would show fresh leverage entering against weakening spot demand.
What Comes Next for Ethereum ETF Flows
The next U.S. trading session will test whether Ethereum ETF flows stabilize after four consecutive withdrawals. A return to net inflows would weaken the case that institutional demand has rolled over.
Price traders can also track the weekend range. Holding above $2,650 would preserve the latest intraday low, while a recovery through $2,744 would reclaim the 24-hour high.
Product supply is another catalyst. The SEC recently cleared exchange rules for new leveraged Bitcoin and Ethereum funds, with an October 18 registration milestone approaching.
The immediate test arrives when U.S. ETFs report their next session. Beyond that, the Federal Reserve’s October 27–28 meeting remains the larger rates catalyst for ETH price and fund demand.
Sharron Kendi
Sharron Kendi is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence.
