TLDR:The Ethereum price traded near $2,250 on October 31 as ETF outflows and a large attacker-linked ETH holding drew investor attention.Glassnode reported 23 straight ETF outflow sessions, with Farside data showing a $4.4 million inflow on October 23 and a five-day streak.Wallets linked to the Binance hack held an estimated 525,200 ETH at 16:51 UTC, according to a later report on October 31.Binance says it has replaced 90% of the stolen assets, while its customer compensation does not erase the ETH still held in attacker-linked wallets.The Ethereum price faces a test as investors weigh ETF withdrawals against the risk of stolen ETH reaching the market. Ether traded near $2,250 on Saturday, October 31, according to recent market data.Glassnode data shows US spot Ether ETFs recorded 23 consecutive outflow sessions. Attention has also turned to wallets linked to the $6.3 billion Binance hack. A later report placed their holdings above 525,000 ETH, although any future sales remain uncertain. Binance says it has replaced 90% of the stolen assets.Ethereum Price Tested by ETF Outflows The Ethereum price is contending with weaker fund demand as investors reassess their exposure to digital assets. The token fell more than 5% on Thursday and regained some ground on Friday. Glassnode described the 23-session run as the longest since US spot Ether ETFs launched.Farside’s data show five straight outflow sessions from October 26 through October 30. Those withdrawals totaled approximately $431.4 million, including $155.7 million on the final day.Source: GlassnodeBlackRock’s iShares Ethereum Trust recorded $76.6 million of that day’s outflows. Grayscale’s Ethereum Mini Trust lost $34.1 million.Glassnode said traditional investors had bought heavily in August and September. A sustained return of ETF inflows would give traders another measure of institutional demand for the Ethereum price.Stolen Ether Holdings Keep Market Supply Risk in FocusAn earlier estimate from blockchain analytics firm TRM Labs put attacker-linked holdings above 420,000 ETH. An estimated approximately 525,200 ETH across linked wallets at 16:51 UTC on October 31.The figures use different reporting times and wallet scopes. They therefore do not establish a directly comparable increase in the attacker’s holdings.A large position could weigh on the Ethereum price if its holder sells into the market. The effect would depend on the size and timing of trades and the liquidity available to absorb them.Aave risk researchers said one linked wallet deposited about $60 million in USDT as collateral on October 29. It borrowed 19,762 wrapped ETH before the lending protocol restricted activity. Aave’s market freeze blocked new activity but did not seize the borrowed funds.That loan represents only part of the estimated Ether holdings. Researchers say other stolen assets were also exchanged for ETH.Tether and Circle froze significant amounts of stolen stablecoins. Unlike those tokens, native ETH has no central issuer that can freeze it directly.Binance says it has replenished 90% of the assets affected by the hack. The exchange also says customer ETH is fully backed and plans to resume withdrawals on November 1. Its replacement funding includes corporate funds, futures insurance reserves, and the SAFU emergency fund.Those replacement purchases are separate from the ETH still held in attacker-linked wallets. The Ethereum price could face a supply overhang even after customer balances are covered. Buying replacement Ether could add demand, but Binance has not said it will purchase the attacker’s tokens.The post Ethereum Price Faces 525K ETH Supply Risk as ETF Outflows Mount appeared first on Blockonomi.