Ether ETFs Dominate Inflows

Institutional demand for Ethereum is heating up, with spot Ether Exchange-Traded Funds (ETFs) attracting $9.6 billion in the third quarter of 2025. This figure notably surpassed Bitcoin’s $8.7 billion in ETF inflows for the same period, signaling a significant shift in investor focus. Total assets managed by U.S. spot Ether ETFs have now climbed to a substantial $28.6 billion, driven by both institutional and retail interest.

Whale Activity Signals Renewed Confidence

Mirroring the broader market trend, one prominent Ethereum whale recently pivoted from short positions to a more bullish stance. According to blockchain data, the large-scale investor closed out bearish bets and now holds long positions valued at $37 million in Bitcoin (BTC) and $18 million in Ethereum (ETH). This move suggests growing confidence in the market’s upward potential.

Further supporting this positive outlook is a rise in large ETH withdrawals from exchanges. This pattern has historically been interpreted as an accumulation phase, often preceding significant price increases as investors move assets into private storage for a long-term holding strategy.

Price Action and Technical Outlook

Ethereum’s price has responded favorably, climbing 5.2% to $4,160 as of October 31, 2025. On the same day, Deribit exchange processed the expiration of $2.6 billion in Ethereum options. While the put-to-call ratio of 1.91 indicated a bearish sentiment among options traders at the time, the spot market’s momentum tells a different story.

Technical analysis suggests the rally may have room to run. Analysts are watching key Fibonacci retracement levels that point to potential future price targets of $6,303 and $9,013, with a more optimistic projection reaching $16,077 if the bullish trend persists. This outlook is bolstered by the growing corporate adoption of Ethereum’s network for asset tokenization. While the market’s momentum is strong, analysts caution that broader economic factors and regulatory developments could still introduce volatility.