• US spot Ethereum ETFs recorded $144.8M net outflows on November 11

• BlackRock's ETHA led with $129.8M in redemptions on November 11

• Five trading days from November 5 to 11 produced $523.9M in cumulative outflows

ETHA Leads $144.8M Daily Exit

US spot ETFs holding Ethereum (ETH) posted $144.8 million in net outflows on November 11, a fifth consecutive trading day of redemptions, and the Ethereum price held near $2,050 into Thursday trading. The session's outflow ran roughly 110 times the $1.32 million that left the funds on November 10. None of the eleven listed products recorded an inflow, and five of them bled cash.

BlackRock's ETHA drove the print with $129.8 million in redemptions. Its companion fund ETHB lost $5.3 million, Bitwise's ETHW $4.8 million, Fidelity's FETH $4.1 million and Franklin's EZET $0.8 million. The remaining six funds, among them Grayscale's ETHE, VanEck's ETHV, Morgan Stanley's MSSE, 21Shares' TETH and Invesco Galaxy's QETH, recorded no flow in either direction. The eleven products span BlackRock, Grayscale, Fidelity, Bitwise, Franklin Templeton, VanEck, 21Shares, Invesco Galaxy and Morgan Stanley.

Day-to-day volume across the complex reached $458.7 million, of which ETHA carried $370.7 million, Grayscale's ETH product $34.2 million and FETH $25.8 million. Total net assets stood at $11.65 billion, about 4.58% of Ethereum's entire market capitalization. The largest products by assets remained ETHA at $5.87 billion, Grayscale's ETH fund at $1.88 billion and the older ETHE trust at $1.42 billion. Every issuer files daily creation and redemption figures, and authorized participants settle those orders in ETH, which is what makes the per-product split above a measured record rather than an estimate.

Five Days of Redemptions Top $520 Million

Viewed across the window, the five trading days from November 5 through November 11 produced $523.9 million in cumulative net outflows, with the run opening on the $379M four-day outflow streak tracked earlier this month. ETHA contributed $415.1 million of the five-day total, followed by ETHBETHBETHB at $45.9 million, Grayscale's ETH fund at $28.9 million and FETH at $27.1 million. Morgan Stanley's MSSE was the only product to add money over the stretch, taking in $1.6 million while every other fund saw either outflows or nothing at all.

The November tally through the 11th stands at $695.9 million, on top of $1.61 billion of outflows across October as a whole. Since the funds began trading in July 2024, cumulative net inflows amount to roughly $11.6 billion, and the internal split is lopsided: ETHA has absorbed $11.27 billion since launch while Grayscale's ETHE has shed $5.53 billion. The concentration holds further down the table too, where FETH retains $243.0 million of cumulative inflows and Bitwise's ETHW $38.9 million even after the recent redemptions.

Mechanically, ETF redemptions are settled between issuers and authorized participants, so the flows describe demand for fund shares rather than usage of Ethereum's smart contract network or movement on its underlying blockchain. Even so, the persistent redemptions have kept selling pressure on the broader Ethereum ecosystem through the fourth quarter, and the asset itself was 0.9% lower over the past 24 hours.

$2,034 Support Under a 92/100 Score

Composite support and resistance scoring puts Ethereum's first shelf at $2,034.56, scored 92 out of 100, with stronger ground at $1,970.17 rated 93 out of 100; the nearest resistance sits at $2,099.71 with a 72 out of 100 score, all tracked in our Ethereum technical analysis. The read is a downtrend, with the relative strength index at 29.56 and a bearish MACD signal, and sentiment sits in fear at 28 out of 100. Positioning leans the other way: the perpetual funding rate stands at 0.0045% and the long/short account ratio reads 3.15. The $2,034 zone also sits near the level where a large holder repurchased 6,087 ETH at $2,031 earlier this month. What the daily flow print cannot establish is who redeemed: issuer disclosures do not say whether the money left institutional or retail hands.