Click a step, or its card, to focus it.
The Fed's balance sheet stood at $6.746 trillion on October 28, 2026.
Bank reserves at the Fed stood at $2.894 trillion and the Treasury's account held $999.7 billion on October 28, 2026.
Across the current stretch from March 25, 2026, ether's sensitivity to the 10-year real yield averaged minus 0.21, the strongest of the thirteen stretches. The yield, the return on 10-year inflation-protected Treasuries, stood at 2.63 percent on October 29, 2026.
The dollar index rose 1.66 percent over the 30 trading days to October 30, 2026. Over the prior 90 days a 1 percent rise in the dollar went with about a 4 percent fall in ether, at a correlation of minus 0.38.
The Nasdaq-100 fell 4.25 percent over the 30 trading days to October 30, 2026. Ether's correlation with the index read 0.60 over 30 days and 0.27 over 90 days on October 29, 2026. Ether moved more closely with technology stocks in the latest month.
Tether and Circle issue most of the dollar tokens on blockchains. Across all chains, $298.91 billion circulated on October 31, 2026. Ethereum held 47.41 percent of that supply, down from 53.86 percent on December 31, 2025.
Tether reported $132.4 billion of direct and indirect US Treasury bills on September 30, 2026 in its quarterly attestation (company-asserted).
Investors pulled $1,607.2 million from US spot ether funds between October 1 and October 30, 2026. That left the net flow for 2026 at minus $30.9 million. Since launch the ether funds have taken in $12.32 billion against $57.05 billion for the bitcoin funds.
Public companies held 7,849,398 ether on October 31, 2026, 6.42 percent of supply. BitMine held 77.10 percent of that corporate total. Their holdings grew by 51,911 ether over the prior 30 days.
By its own weekly releases, BitMine's ether buying came to 0.210 percent of its market value in the week to October 25, 2026.
| Link | Reading | Value | As of | Source type |
|---|
The line is the daily reading. Each flat step is a stretch's average. Beta 1.2 means ether moved about 1.2 percent for each 1 percent change in bitcoin.
Ether's beta to bitcoin rose from an average of 0.81 in the first stretch, from November 1, 2023, to a peak of 1.70 from August 22 to November 19, 2025. It has averaged 1.24 since March 25, 2026. Correlations with bitcoin ran from 0.73 to 0.92 across the thirteen stretches.
Top band: beta to bitcoin, darker is higher. Bottom band: sensitivity to the 10-year real yield, red below zero and blue above. Click or tap a band to highlight that stretch on every chart.
Twelve breaks separate the thirteen stretches. Each break's date comes from the beta series alone.
Correlation runs from minus 1 to 1. Zero means no steady link. Click a market's name to focus it.
On the latest readings, from October 29 to October 31, 2026, ether's 90-day correlation was 0.27 with the Nasdaq-100 and minus 0.38 with the dollar index. Against the real yield it was minus 0.08 over 90 days and 0.10 over 30 days, close to zero.
| Stretch | Days | Beta to bitcoin | Correlation with bitcoin | Real-yield sensitivity |
|---|
Beta is how far ether moved, in percent, for each 1 percent change in the other market. For the real yield, beta counts ether's change for each 1 percentage point change in the yield. Correlation runs from minus 1 to 1 and measures how steadily the two moved together. Both use daily log returns over trailing windows of 30 and 90 trading days from November 1, 2023.
A stretch is a period in which the 90-day beta to bitcoin or to the real yield held a steady average. A change-point search with a 60-observation minimum set the breaks.
Prices are Yahoo Finance daily closes. Yields and Federal Reserve balances are Federal Reserve Bank of St. Louis data. Dollar tokens are DefiLlama, spot fund flows are Farside Investors, and public-company ether is The Block over the ultrasound.money supply. BitMine's weekly buying is ether added in each release at the release's ether price over market value.