Ethereum ETF flows continue to trend subdued as investors react to changes in market sentiment.
summary
- Ethereum ETFs have experienced outflows of over $938 million for the sixth day in a row, with BlackRock's ETHA leading the way in withdrawals.
- ETH is trading around $3,388, down 14% on the week, with price movements reflecting lower ETF inflows and weaker investor sentiment.
- Whales have accumulated over $1.3 billion in ETH, indicating a recovery is possible if ETF sentiment stabilizes and buying momentum rises above the $3,100 support.
The Ethereum ETF recorded its sixth consecutive net outflow on November 5th, resulting in a loss of $119 million for the day. BlackRock's ETHA led the decline with $147 million in outflows, outpacing inflows by other issuers, according to SosoValue data.
Grayscale's NYSE ETH fund received $24 million in inflows, Fidelity and 21Shares received inflows of $3.45 million and $0.5 million, respectively, while no transactions were recorded at the other five issuers.
This latest round resulted in total net outflows of over $938 million over six sessions. The outflow has roughly matched the decline in the price of Ethereum (ETH), which is trading around $3,388 and is down 14% this week, according to market data from crypto.news.
You may also like: Bitcoin ETF outflow streak extends to 6th day despite BTC regaining $103,000
With prices and capital flows moving in tandem, Ethereum’s near-term outlook is likely to be shaped by whether ETF sentiment stabilizes.
Whales accumulate ETH amid Ethereum ETF outflow
Ethereum’s price recovery has attracted the attention of large holders who are taking advantage of the recent decline. According to on-chain tracker Lookonchain, the whales purchased approximately 394,682 ETH worth a total of $1.37 billion in just three days.
Notable wallets include one that borrowed 66,000 ETH to purchase for $896 million, purchases linked to Bitmine, and other large accumulations made by a cluster of known sibling wallets and new accounts.
With current support just above $3,100, Ethereum’s outlook is divided into two scenarios. If the selling pressure resumes and spot ETF outflows continue, ETH could revisit recent lows around $2,900. On the bullish side, strong whale buying and a rebound from current levels could help ETH retrace resistance above $3,750 and potentially $4,250.
Ethereum price chart |Source: TradingView
For now, ETH's movement will depend on whether the accumulation at the bottom translates into real momentum. If fresh capital flows in and Ethereum ETF sentiment stabilizes, the token could begin to build a new foundation for a recovery.
You may also like: Cryptocurrency prices today (November 6th): BTC, ETH, BNB, XRP rise amid market rebound
