Ethereum price hovers near the key level of $4,000.
Market data shows ETH spot exchange-traded funds recorded net outflows of over $128 million.
Trader anticipation around US consumer price index (CPI) has ETH bulls poised for an uptick.
Ethereum (ETH) price is up slightly, trading above $3,980 at the time of writing with a 24-hour uptick of nearly 3%.
This comes despite the flagship altcoin’s market grappling with institutional outflows from its spot exchange-traded funds (ETFs).
Also, while traders eyeing the key US Consumer Price Index (CPI) release today adds optimism amid anticipation of clues on Federal Reserve policy.
As ETH, reaction to the reading could point to short term price trajectory for Ethereum.
Ethereum spot ETFs see $128 million in outflows
Spot Ethereum ETFs trading on US exchanges experienced notable negative flows on October 23, 2025 as the market witnessed net outflows of $128 million.
Notably, none of the nine available ETH ETFs posted net inflows for the day, a sharp departure from the intermittent positivity seen earlier in the month.
This uniform exodus reflects growing caution among institutional players, who appear to be reallocating toward perceived safer havens as Ethereum’s price momentum falters.
Data from ETF tracker SoSoValue highlights that ETH spot ETFs have witnessed outflows in eight of the past 11 trading days. In contrast, the altcoin notched eight straight days of net inflows at the start of October.
On Oct. 23, Fidelity’s Ethereum Fund (FETH) led the outflows with $77 million in withdrawals.
Meanwhile, BlackRock’s iShares Ethereum Trust (ETHA) saw an exit of over $23.5 million and Grayscale’s Ethereum Trust (ETHE) recorded outflows of over $8.8 million. Invesco, Franklin Templeton and 21Shares saw zero net flows.
In contrast, Bitcoin spot ETFs demonstrated resilience, attracting a total net inflow of $20.33 million on the same day. BlackRock’s flagship iShares Bitcoin Trust (IBIT) spearheaded the gains, drawing in a robust $108 million in net inflows.
Cumulative inflows for ETH ETFs since their debut now stand at $14.45 billion, compared to Bitcoin’s towering $61.89 billion. Despite Ethereum’s lagging of Bitcoin, trends in institutional adoption point to increased bullish bets on ETH.
Ethereum is quietly becoming the corporate standard.
Treasury firms and ETFs now hold 12.5M ETH, representing 10.31% of total supply that’s not noise, that’s structure. 🛡️
👉 This marks a pivotal shift, capital isn’t just stored anymore, it’s earning, staking and governing the… pic.twitter.com/VFZopRTF0d
— Cosmos Health Inc. (Nasdaq: COSM) (@CosmosHealthInc) October 24, 2025
Ethereum price outlook ahead of CPI data today
Markets are braced for the Bureau of Labor Statistics’ CPI report at 8:30 a.m. ET on October 24.
Ahead of this, Ethereum’s price hovers around $3,980, up nearly 3% in the past 24 hours. The uptick has ETH near the key $4,000 mark and expectations in the short-term hinge on inflation signals.
Economists anticipate a year-over-year CPI of 3.1%, down from August’s 2.9%, with core inflation steady at 3.1%.
🇺🇸 US CPI will be released tomorrow at 8:30am ET.
The market expectations are at 3.1%, while last month’s CPI was at 2.9%.
Here are different scenarios:
1⃣ CPI > 3.1%
This will be bearish for markets.
This is because it’ll mark the highest CPI print since June 2024.
2⃣ CPI… pic.twitter.com/uEl435PNa2
— Ash Crypto (@Ashcryptoreal) October 23, 2025
A print at or below expectations could alleviate pressure on risk assets, potentially igniting a short squeeze in ETH futures.
Shorts could face liquidation if prices spike sharply into next week when the Federal Reserve is anticipated to cut its interest rate.
With relative strength index at 46 and signaling a divergence to the upside, a successful retest and continuation above $4,000 could bring $4,300 and $4,500 into play.
However, stumbling at key resistance in the aftermath of the CPI release, with other market conditions in effect, the altcoin could see a pullback to support at $3,745.
