Ethereum News Today: Ethereum ETFs Outpace Bitcoin, Surging to $28.6B as Whales Bet Big

A major Ethereum (ETH) whale has extended its long positions in Bitcoin (BTC) and Ethereum, holding $37 million in BTC and $18 million in ETH following a recent exit from short positions, according to on-chain data. This move aligns with broader market trends showing renewed institutional interest in crypto assets, particularly as Ethereum options activity and ETF inflows hit record levels.

On October 31, 2025, $2.6 billion in Ethereum options expired on Deribit, with a put-to-call ratio of 1.91, indicating bearish sentiment among options traders. At the time, Ethereum traded at $3,847, below the "max pain" level of $4,100.12—a price point where open contracts collectively lose value. The expiration coincided with a surge in spot ETH ETF inflows, which reached $9.6 billion in the third quarter of 2025, outpacing the $8.7 billion in Bitcoin ETF inflows during the same period, according to a TradingView report.

Ethereum's price action has also shown resilience, rising 5.2% to $4,160 in 24 hours as of October 31. Technical analysts note Fibonacci retracement levels suggesting potential price targets of $6,303, $9,013, and even $16,077 if bullish momentum continues, according to a TradingView piece. This optimism is fueled by growing adoption of Ethereum's platform for tokenization, with major corporations increasingly leveraging its infrastructure.

The record ETF inflows have amplified market confidence. U.S. spot ETH ETFs now hold $28.6 billion in assets under management, driven by institutional investors and retail demand, as noted in the TradingView piece. Large Ethereum withdrawals from exchanges have also spiked, a pattern historically associated with accumulation phases ahead of price rallies, the TradingView report also observed.

The whale's long positions follow a strategic exit from short bets, reflecting a shift in risk appetite amid improving market fundamentals. While Ethereum remains below its recent max pain level, the combination of strong ETF flows, rising network activity, and technical indicators suggests a potential breakout scenario. Analysts caution, however, that macroeconomic factors and regulatory developments could still introduce volatility.