U.S. spot Ethereum ETFs have recorded net outflows for 23 consecutive trading days. Glassnode said on X on November 1 that this is the longest consecutive outflow streak since these products launched. Demand from traditional investors, who were buying heavily in August and September, has weakened.
The 23-day figure is more significant than any single day’s outflow. A large one-day redemption could simply mean one account is rebalancing; 23 consecutive days suggest there’s virtually no one stepping in on the buyer side, while existing holdings continue to flow out. Those purchases in August and September had been one of the main supports for $ETH price; now that money is moving in the opposite direction.
But this alone doesn’t show that something is wrong with ETH itself. ETFs are just one channel for traditional capital to enter the market. The channel is leaking, but a single data point can’t tell us whether the asset has changed or risk appetite is tightening. Next, watch how many days the outflows continue before they stop, and whether the price moves first or funds start flowing back in when they do.
#以太坊ETF #Fund flows
The 23-day figure is more significant than any single day’s outflow. A large one-day redemption could simply mean one account is rebalancing; 23 consecutive days suggest there’s virtually no one stepping in on the buyer side, while existing holdings continue to flow out. Those purchases in August and September had been one of the main supports for $ETH price; now that money is moving in the opposite direction.
But this alone doesn’t show that something is wrong with ETH itself. ETFs are just one channel for traditional capital to enter the market. The channel is leaking, but a single data point can’t tell us whether the asset has changed or risk appetite is tightening. Next, watch how many days the outflows continue before they stop, and whether the price moves first or funds start flowing back in when they do.
#以太坊ETF #Fund flows