Ether ETFs Are Having Their Worst Month of 2026. Who Buys Once Bitmine Stops?
By David Okoya
AI summary of the source article
Spot ether ETFs experienced $1.2 billion in net outflows in October through Oct. 22. Meanwhile, major accumulator Bitmine Immersion Technologies slowed weekly purchases to roughly 12,500 ETH as it nears its hard cap target of 5% of circulating supply.
Why it matters
Adoption builds the network, but it only lifts the price when someone buys the coin. Presently, the question is who absorbs the roughly 20,000 new ETH the network issues every week once Bitmine stops.
Key facts
- Spot ether ETFs recorded $1.2 billion in net outflows in October through Oct. 22, reversing from $2.7 billion of net inflows in August and September.
- Bitmine holds 6.04 million ETH (4.9% of circulating supply) and plans to stop accumulating once it hits a hard cap of 5%.
- Bitmine's purchases slowed to about 12,500 ETH per week, down from over 100,000 ETH per week during peak periods in April and May.
Source excerpt · Unchained
Ether’s (ETH) demand this year has largely come from two places: spot exchange-traded funds (ETFs) and Bitmine Immersion Technologies (BMNR), the company building an ether treasury. In October, both are pulling back at once. No month this year has seen spot ether ETFs lose as much as October, with $1.2 ... The post Ether ETFs Are Having Their Worst Month of 2026. Who Buys Once Bitmine Stops? appea…