Ethereum
Ethereum trades near $2,400 amid institutional outflows and whale accumulation
Ethereum is hovering around $2,409 following three consecutive weeks of spot ETF outflows, even as large holder BitMine expanded its position.
Ethereum traded at $2,409 on October 20, 2026, marking a 0.68% decline over 24 hours with a market capitalization of $294 billion. The cryptocurrency remains approximately 51% below its August 2025 record high of $4,953.
Institutional investment products have seen sustained selling pressure recently. US spot Ether funds recorded roughly $320 million in net outflows during the week ending October 16, representing the third consecutive week of withdrawals from these vehicles.
Conversely, corporate holder BitMine increased its holdings by purchasing 12,535 ETH over the same period, bringing its treasury to approximately 4.9% of Ethereum's total supply. The article also notes growing speculative interest in lower-cap assets such as presale project Pepeto alongside broader market discussions concerning XRP.
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