In the span of just two weeks, investors have reportedly withdrawn around $1 billion from Ethereum and Solana exchange-traded funds (ETFs). However, the two cryptocurrencies are revealing distinct narratives regarding how the market is responding and which may falter first.
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From October 1 to 16, 2026, investors pulled approximately $1 billion from both Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL). This significant sell-off raises the question: Which asset is more resilient, Ethereum or Solana, during this challenging time? ETFs allow investors to gain cryptocurrency exposure without the need to purchase the coins directly, functioning similarly to regular stock trades.
The entire market has seen a downturn, with Bitcoin (CRYPTO: BTC) declining 1.4% in the week leading up to October 18. Nevertheless, both Ethereum and Solana faced more pronounced drops, with ETH trading around $2,417 and SOL at about $104. Given the withdrawals from both ETFs, which asset displays superior resilience?
Ongoing Withdrawals from Ethereum and Solana ETFs
Ethereum ETFsexperienced losses in nearly every trading session in October, with the exception of one. On October 13, these funds managed to attract $24.8 million, as per SoSoValue. Ultimately, from October 1 to 16, Ethereum ETFs reported a net outflow of $954.8 million.
The selling trend persisted into the latter part of the period, with Ethereum ETFs witnessing a net outflow of $69.7 million on October 16, all originating from BlackRock’s iShares Ethereum Trust (NASDAQ: ETHA). A net outflow indicates that more funds were withdrawn from the ETF than were added on that day.
In contrast, Solana’s ETFs have been on a prolonged outflow spree. Their last inflow was a modest $1.3 million on October 2, with negative sessions occurring continuously from October 5 to 16, culminating in a $12.7 million outflow on October 16. Overall, from October 1 to 16, Solana ETFs experienced a total outflow of $54.9 million.
Ethereum ETFs Are Experiencing Larger Withdrawals
Despite Ethereum exhibiting a greater dollar loss, it’s worth noting that these funds are considerably larger. As of October 16, Ethereum ETFs had $14.95 billion in net assets, whereas Solana ETFs held only $1.62 billion.
When looking at percentages relative to their sizes, the outflows from Ethereum represent about 6.4% of their total net assets, while Solana’s outflows are about 3.4%. This indicates that Ethereum ETF holders are exiting at a faster rate, notwithstanding Solana’s extended period of outflows.
The selling pressure surrounding Ethereum appears to be fueled by larger investors reducing their positions, particularly with BlackRock’s fund. Conversely, Solana’s decline seems to resemble a gradual drop from a smaller base, with minimal new investments since early October.
Ethereum’s Price Performed Better This Week
In the week ending October 18, Ethereum’s price dropped by 3.6%, while Solana’s decreased by 5.2%. Both cryptocurrencies underperformed compared toBitcoin, indicating selling pressures beyond the overall market slump.
However, Solana displayed strength by maintaining its vital support level. On October 15, SOL dipped just above $100, yet buyers quickly stepped in to stabilize that price. In contrast, Ethereum fell to approximately $2,313 that day, eventually closing near $2,439.
In the longer term, Solana seems to be faring better. As of October 17, SOL has gained 2.7% over the preceding month, while ETH experienced a 1.1% decline. Additionally, over the past three months, Solana has returned 36.7%, compared to Ethereum’s 29.3%. Year-to-date, SOL is down 16.2%, while ETH has fallen 18.4%.
Ethereum still has a base of supporters; respected macro investor Jordi Visser mentioned on The Pomp Podcast in October that it has “held its ground” alongside Bitcoin, remaining one of the stronger areas in the cryptocurrency market. On the other hand, Solana is anticipating its Alpenglow upgrade on October 21, a critical update aimed at enhancing how validators reach consensus for new transactions, yet investor enthusiasm for Solana ETFs remains relatively low.
Comparing Resilience: Ethereum vs. Solana
In summary, while Solana appears to be holding its ground slightly better, the difference is narrow. Although it experienced a sharper decline this week, the overall loss percentage of its funds is lower, and SOL managed to maintain the $100 support level. Conversely, Ethereum’s funds are experiencing greater outflows despite the cryptocurrency’s relatively modest price decrease.
A crucial moment for Solana would be a positive influx of ETF investments, making it the first such instance since October 2, particularly following the Alpenglow upgrade. Meanwhile, for Ethereum, a second productive trading session in October, ideally reflected in ETHA inflows, could indicate a reduction in selling pressure. Nonetheless, if withdrawals persist in conjunction with the $954.8 million loss, Ethereum might face challenges in keeping up with Solana in the long run.
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