Four Funds Bled Cash on Thursday

United States spot Ethereum (ETH) exchange-traded funds (ETFs) posted a net outflow of $99.97 million on Thursday, Nov 5, reversing course after a single day of inflows. Issuer flow disclosures show four of the 11 listed products lost money that session and none gained, after the complex had taken in $53.02 million a day earlier on Nov 4. The daily figures reflect the creation and redemption orders each issuer files for its fund, so a negative print means investors redeemed more shares than were created. The Ethereum price followed the money lower: it trades near $2,229 at the time of writing, down 8.1% over the past 24 hours and 0.2% since the latest fund-flow reading landed at 05:01 UTC. BlackRock's funds did most of the damage. ETHA, the largest vehicle in the complex by assets, saw $75.20 million leave, and the issuer's newer ETHB product lost another $21.99 million; together the two BlackRock funds accounted for more than 97% of the day's net outflow. Fidelity's FETH bled $2.24 million and Grayscale's ETHE trust gave up $0.54 million, completing the losers' list. No product recorded an inflow. Session trading across the 11 Ethereum funds reached $1.13 billion, with ETHA alone turning over $874.35 million, Grayscale's ETH product $88.13 million and FETH $60.64 million. Total net assets stood at $13.04 billion, about 4.74% of Ethereum's total market capitalization, led by ETHA at $6.70 billion, Grayscale's ETH trust at $2.06 billion and ETHE at $1.53 billion. The Nov 5 outflow trimmed cumulative net inflows to $12.02 billion since the products began trading in July 2024, a figure built almost entirely on BlackRock's flagship fund.

Price Pinned Between Two Strong Walls

The strongest support under the market now sits at $2,207.54, a level COINOTAG's composite model scores 94 out of 100. Resistance at $2,319.93 carries the same 94/100 grade, so the token is pinned between two strong walls after the recent drop below $2.3K from the $2.5K supply zone. Positioning shows no stress yet: the perpetual futures funding rate holds at a mildly positive 0.0026% and open interest stands at $9.07 billion, meaning leveraged longs are still paying to stay in. A daily close above $2,319.93 would flip the near-term map; losing $2,207.54 would set the downside agenda instead. Both levels are updated continuously on our Ethereum technical analysis page.

October Outflows Passed $1.6 Billion

Thursday's print landed inside a sequence that has run heavily one way for most of the past two weeks. The complex recorded net outflows for seven consecutive sessions from Oct 26 through Nov 3, broke that run with $53.02 million of inflows on Nov 4, and swung back the very next day. Across the five trading sessions from Oct 30 through Nov 5, cumulative net outflows reached $427.60 million. ETHA drove $331.70 million of that five-day total and ETHBETHBETHB another $68.50 million, while Grayscale's ETH trust lost $31.40 million and ETHE a further $12.30 million. A few smaller products took the other side over the same window: Morgan Stanley's MSSE added $2.50 million, 21Shares' TETH took in $0.10 million and FETH still ended the stretch $13.70 million richer despite its Thursday exit. The pattern shows one dominant cohort of sellers, with redemptions concentrated in the two largest funds while niche products stayed flat or slightly positive. The monthly tallies weigh heavier. November has produced $271.90 million of net outflows in its first five sessions, on top of the $1.61 billion that left the funds during October. Since listing in July 2024, ETHA has absorbed $11.61 billion of cumulative inflows while ETHE has surrendered $5.53 billion, the largest single-fund totals in either direction. Fidelity's FETH has gathered $2.45 billion, Grayscale's ETH trust $2.00 billion, Bitwise's ETHW $393.41 million and VanEck's ETHV $153.30 million. Longer-dated theses are not moving with the flows; analyst Anders Weierud's call for $4,800 by 2029 sits far above the tape. The count that matters near term is simpler: outflows have landed in seven of the last eight trading days, interrupted once by Nov 4's inflow.