Monday 5 October
Tuesday 6 October
Wednesday 7 October
Thursday 8 October
Friday 9 October
Saturday 10 October
Sunday 11 October
ETF flows (Farside)
Top five Ethereum ETFs by ETH held (as of 9 October)
Top five public treasury companies by ETH held
Updates to the Ethereum software: Glamsterdam on testnets
Staking and the MetaMask validator exit
What it means
Sell-off: Ether ended the week at $2,536.88 on 11 October, down 6.97%, after a low of $2,408.36. It fell harder than Bitcoin.
ETF outflows: Spot Ether ETFs lost $542.2M in a week, the worst since January, with ETHA accounting for about 88%. This is the ninth straight day of outflows.
Glamsterdam is on target: The Sepolia upgrade on 6 October went live, Hoodi follows on 26 October, with the client deadline set for 16 October.
Progress towards goal: BitMine holds 6,016,414 ETH (about 4.9% of supply) and plans to stop purchases at 5%.
Steady staking: About 1.44 to 1.5M ETH is waiting to stake, compared to about 767K waiting to unstake.
Levels to watch: $2,408 and $2,471 as support, $2,544 and $2,738 as resistance. US CPI data is out on 14 October.
Part of a seriesEther ended Sunday, 11 October, at $2,536.88, a drop of 6.97% for the week. It ended last Sunday at $2,726.97. After trading near $2,700 for the first three days of the week, ether began selling off on Wednesday and Thursday to a low of $2,408.36. It has been bouncing since, gaining 5.3% from that low. Spot ETFs lost $542 million this week and have seen nine straight days of outflows.
The week began quietly. Ether dropped 0.63% to $2,709.87 (range for the day of $2,680.14 to $2,737.79). ETFs had outflows of $50.8 million for the day. Of that, BlackRock’s ETHA had $31.9 million of outflows and Fidelity’s FETH had $18.9 million in outflows.
BitMine also announced the purchase of 15,112 ETH last week, taking their total to 6,016,414 ETH, or approximately 4.9% of total ETH supply. About 5.07 million ETH is staked.
Ether slipped 0.44% to $2,697.98 (range $2,684.45 to $2,723.56). Glamsterdam was activated on the Sepolia testnet, with no problems reported. ETHA had outflows of $201.9 million, the largest of the week.
Risk off day. Ether fell 4.52% to $2,576.16 (range $2,543.77 to $2,700.08). The entire market sold off as oil continued to surge to over $100 a barrel, and Treasury yields hit multi decade highs. The Fed minutes from the last meeting also sent the market tumbling, as most members said that a rate hike by year end would be appropriate.
While at a conference in Singapore, the chairman of BitMine said that the company would no longer buy ether after it reaches the 5% mark of the total supply. The chairman also said that the firm needs “another 100,000 ETH” to reach the 5% target. For the day, ETFs lost $160.9 million, with ETHA losing $116.1 million and ETHE losing $25.8 million.
Ether fell another 3.95% to $2,474.30, after touching $2,408.36, the week’s low (range $2,408.36 to $2,588.35). ETFs lost another $72.5 million. Developers also confirmed that the Ethereum test network, Hoodi, would test Glamsterdam on 26 October, a day earlier than the tentative 27 October.
Ether rose 0.55% to $2,487.81 (range $2,471.16 to $2,516.53). ETHA lost another $56.1 million, and it was the only fund with outflows, making nine sessions in a row of ETF outflows.
Ether was relatively flat, rising 0.75% to $2,506.52 in a tight range of $2,486.18 to $2,519.39.
Ether rose 1.21% to $2,536.88 (range $2,497.95 to $2,554.37), the best close since Wednesday.
Net flows from 5 to 9 October were -$542.2 million (-50.8, -201.9, -160.9, -72.5, -56.1). It was the worst week for Ethereum ETFs since January. BlackRock’s ETHA lost $477.1 million, about 88% of the total, and ETHE lost $31.9 million. The previous week, flows were -$138.1 million. The total outflows over the past nine days, starting from 29 September, were about $697 million. The last inflow was on 28 September, for $17.1 million.
iShares Ethereum Trust (ETHA, BlackRock): about 3.53 million ETH
Grayscale Ethereum Mini Trust (ETH): about 877,210 ETH
Grayscale Ethereum Trust (ETHE): about 730,180 ETH
Fidelity Ethereum Fund (FETH): about 546,220 ETH
Bitwise Ethereum ETF (ETHW): about 108,960 ETH
Together, these five ETFs hold about 5.8 million ETH, and ETHA is about 61% of that total.
BitMine (BMNR): 6,016,414 ETH (as of 4 October), about 4.9% of total ETH supply, with about 5.07 million ETH staked.
SharpLink (SBET): about 868,700 ETH.
The Ether Machine (ETHM): about 496,700 ETH.
Bit Digital (BTBT): about 158,460 ETH.
Coinbase (COIN): about 150,190 ETH.
BitMine has about seven times more ETH than SharpLink.
The Sepolia testnet is live. At 13:53:36 UTC on 6 October (epoch 353,024), Glamsterdam was activated on the Sepolia testnet. It comprises two upgrade tracks, Amsterdam (the execution layer track) and Gloas (the consensus layer track). The main features include:
• Enshrined proposer builder separation (ePBS, EIP-7732): builds the builder and proposer split into the protocol.
• Block level access lists: allow nodes to know in advance which part of the state a given block will touch.
• Gas adjustments: changes to the cost of certain operations.
• 200 million gas limit: an opt in change available to validators on Sepolia, up from the 60 million default. It is a test target, not a promise for mainnet.
Next is Hoodi. Glamsterdam will be activated on Hoodi on 26 October at 17:42 UTC, as confirmed on the 8 October All Core Devs call. Releases of client software ready for Hoodi are due by 16 October. The mainnet date has not been set.
Some client software versions listed for Sepolia: Execution: go-ethereum 1.17.7, Nethermind 2.1.0, Besu 26.9.0, Erigon 3.7.1, Reth 2.7.0 and Ethrex 29.0.1. Consensus: Prysm 7.2.1, Teku 26.9.1, Lodestar 1.49.0, Nimbus 26.10.0, Lighthouse 8.3.0-rc.0 and Grandine 3.0.0-rc.0.
Following an incident affecting the security of its infrastructure, which it disclosed on 30 September, MetaMask Staking is exiting the validators it runs on Lido. MetaMask says its wallets and customer funds were not affected. Lido expected the last validators to be exited by the end of 7 October.
The exit queue spiked to about 851,000 ETH on 2 October. It eased to about 767,350 ETH (a wait of approximately 13 days) on 5 October. The entry queue stood at 1.44 to 1.5 million ETH (approximately 25 days), with about 43.6 million ETH staked. More ETH is waiting to join staking than is leaving it.
Support: $2,408 (the 8 October low) and $2,471 (the 9 October low).
Resistance: $2,544 (the 7 October low, now above price) and the week’s high of $2,738.
Next up: US September CPI on 14 October, client releases for Hoodi on 16 October, Glamsterdam on Hoodi on 26 October and the Fed meeting on 27 and 28 October.
The selling was mainly macro-driven. ETH fell harder than Bitcoin (-6.97% vs. -3.42%), however the bounce from the $2,408 low shows buyers are still present. Glamsterdam is on target, BitMine is about 100,000 ETH away from its 5% target, and more ETH is queuing to be staked than unstaked.
Data as of 11 October 2026. Sources: Investing.com, CoinGecko, Coinranking, Farside Investors, The Block, TokenPost, Coinstats, Ethereum Foundation, Cryptobriefing, KuCoin, Cryptonomist and Yahoo Finance.
India Crypto Research operates independently. The information presented herein is intended solely for educational and informational purposes and should not be construed as financial advice. Before making any financial decisions, it's essential to undertake your own thorough research and analysis. If you're uncertain about any financial matters, we strongly recommend seeking guidance from an impartial financial advisor.
