crypto.news
Subdued trends continue to define Ethereum ETF flows as investors react to shifting market sentiment.
- Ethereum ETFs post sixth straight day of outflows, totaling over $938 million, with BlackRock’s ETHA leading withdrawals.
- $ETH trades near $3,388, down 14% for the week, as price action mirrors declining ETF inflows and weakening investor sentiment.
- Whales accumulate over $1.3 billion in $ETH, signaling potential recovery if ETF sentiment steadies and buying momentum builds above $3,100 support.
Ethereum ETFs recorded a sixth consecutive session of net outflows on November 5, losing $119 million for the day. BlackRock’s ETHA led the drop with outflows of $147 million, outweighing the inflows logged by other issuers, according to data from SoSoValue.
Grayscale’s NYSE $ETH fund took in $24 million, while Fidelity and 21Shares saw $3.45 million and half a million in inflows, respectively, while no trades were logged by the other five issuers.
This latest round brings total net outflows to more than $938 million over six sessions. The outflows closely match the price retreat seen in Ethereum ($ETH), which trades near $3,388 and is down 14% for the week, per market data from crypto.news.
With price and fund flows moving in lockstep, Ethereum’s short-term outlook is likely to be shaped by whether ETF sentiment can stabilize.
Whales accumulate $ETH amid Ethereum ETF outflows
Ethereum’s price recovery has drawn interest from large holders who are taking advantage of the recent dip. According to on-chain tracker Lookonchain, whales have collectively bought around 394,682 $ETH valued at $1.37 billion over just three days.
Notable wallets include one that borrowed 66,000 $ETH to buy for $896 million, purchases linked to Bitmine, and other large accumulations made by a cluster of known sibling wallets and fresh accounts.
With support now just above $3,100, the outlook for Ethereum splits into two scenarios. If selling pressure resumes and spot ETF outflows persist, $ETH could revisit recent lows near $2,900. On the bullish side, strong whale buying and a bounce from current levels could help $ETH retest resistance above $3,750 and potentially $4,250.
$ETH price trend amid Ethereum ETF outflows.">
For now, $ETH’s trend will depend on whether accumulation at the bottom leads to real momentum. If fresh capital flows in and Ethereum ETF sentiment stabilizes, the token could start to build a new base for recovery.