Subdued trends continue to define Ethereum ETF flows as investors react to shifting market sentiment.
Summary
- 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.
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.
Source link