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Spot ether ETFs face $1.2B outflows in Oct as Bitmine nears 5% ETH cap, raising supply absorption questions.

Market News
23 Oct 2026
Unchained
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Neutral
Spot ether ETFs face $1.2B outflows in Oct as Bitmine nears 5% ETH cap, raising supply absorption questions.

In October 2026, spot ether ETFs experienced their worst month with $1.2 billion in net outflows, while Bitmine Immersion Technologies is close to reaching its 5% ownership cap of Ethereum's circulating supply. Bitmine's buying pace has slowed significantly, and it is expected to hit its target by late November. This shift raises concerns about who will absorb the roughly 20,000 new ETH issued weekly once Bitmine stops accumulating. ETF flows, which have been volatile, will play a crucial role in supporting ether's price through the end of the year. The article highlights the dynamics between these major buyers and the implications for ether's supply and price stability going forward.

As Bitmine approaches its 5% cap on Ethereum's circulating supply, ether's market activity on Pluang shows steady investor interest. On Pluang, ETH trades at Rp43.164.579 with a positive 1-day change of 0.68% as of Oct 24, 2026 02:21 WIB. The platform records a 61% buy order activity and a typical hold time of 108 days, indicating a generally optimistic stance among retail investors despite recent ETF outflows.

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