Meaning of Eihwaz It is a rune which is considered sacred to Odin, the one who collects the souls of the dead people for their easy travel to Valhalla, or the underworld. When it’s on the right side, Eihwaz is considered to be a rune that symbolizes death, but it should be taken as a natural process, as it happens when people attain old age, and after that, leave this world and all its materialistic pleasures.