Ethereum (ETH) ETFs Log Sixth Straight Outflow Day With $70.5 Million Exit

BlackRock's ETHA Sets the Pace

United States spot Ethereum (ETH) ETFs recorded $70.5 million in net outflows on Thursday, their sixth consecutive session of withdrawals since the run began on November 5, and the six-day streak has now removed $594.4 million from the products. The Ethereum price sits at $1,925, down 2.4% since the flow report crossed at 13:50 UTC on Friday and 4.6% over the past 24 hours. Across the five trading sessions from November 6 to 12, cumulative net outflows reached $494.5 million, drawn from the daily creation and redemption disclosures each issuer files after the close. A spot ETF holds the underlying coin directly: creations add ETH to fund custody and redemptions pull it out, so the net figure tracks institutional demand with a one-day lag. Thursday's ledger was dominated by one name. BlackRock's ETHA shed $62 million, close to nine-tenths of the day's total. Grayscale's Ethereum trust lost $6.7 million, VanEck's ETHV $2.9 million and Fidelity's FETH $500,000. The other side of the tape was thin: 21Shares' TETH took in $1.2 million and Invesco Galaxy's QETH $400,000, while Bitwise's ETHB, Franklin Templeton's EZET, Morgan Stanley's MSSE and the legacy Grayscale ETHE trust showed no flow at all. Over the five-day window the concentration is starker. ETHA accounted for $401.9 million of the $494.5 million in outflows, Grayscale's Ethereum (ETH) trust $35.6 million, Fidelity's FETH $25.4 million, BlackRock's ETHB $23.9 million, Bitwise's ETHW $4.8 million, VanEck's ETHV $2.9 million and Franklin Templeton's EZET $800,000. Against that, Morgan Stanley's MSSE added $1.6 million across the window and QETH $400,000. 21Shares' TETH, Thursday's largest gainer at $1.2 million, still ended the five-day stretch $1.2 million lower. The Ethereum spot fund complex has now run six sessions without a net positive day, and each one has deepened November's withdrawal total.

The withdrawals are carving into a large accumulated base. Since the funds began trading in July 2024, US spot Ethereum ETFs have drawn $11.55 billion in cumulative net inflows, with BlackRock's ETHA responsible for $11.21 billion of that total and Fidelity's FETH $2.43 billion. Grayscale's mini ETH fund added $1.97 billion over the same span, BlackRock's separate ETHB vehicle $760 million, Bitwise's ETHW $388.6 million and VanEck's ETHV $150.4 million. The complex's largest drag is the legacy Grayscale ETHE trust, which has bled $5.53 billion since listing. Franklin Templeton's EZET ($63.9 million), Morgan Stanley's MSSE ($49.2 million), 21Shares' TETH ($35 million) and Invesco Galaxy's QETH ($24.9 million) round out the field with modest cumulative books. The daily net figure aggregates creations and redemptions across all eleven listed funds, and issuers settle the number once per trading day, so Thursday's print is final rather than an estimate. At the 2026 pace, that history is being tested. November 1 through the 12th produced $766.4 million in net outflows, on top of October's $1.61 billion, a combined $2.37 billion handed back in roughly six weeks. Fund redemptions, for their part, leave the network's own economics untouched. Holders who stake Ethereum (ETH) on the proof-of-stake chain keep earning protocol rewards regardless of what the ETF wrapper does, and validator participation is unaffected by creations or redemptions at the fund level. That separation explains why exchange-traded selling and on-chain activity can diverge for long stretches, a pattern worth tracking while the outflow run continues.

Support at $1,893, Ceiling at $2,042

The exit run meets a market already on the back foot. COINOTAG's composite Ethereum technical analysis marks the strongest support at $1,892.93, scored 67 out of 100, against a firm ceiling at $2,041.76, at 83/100. The relative strength index reads 23.98 inside a confirmed downtrend. Positioning skews crowded: perpetual futures open interest stands at $7.32 billion with long accounts outnumbering shorts 4.27 to 1, an imbalance that can amplify any further slide. The Fear and Greed Index sits at 20 out of 100, extreme fear. Earlier this month ETH reclaimed $2,016 within hours of its first break below $2,000 since August 19, and Joao Wedson's $1,200 warning frames the deeper downside case. Holding $1,893 would cap the damage; until a session flips positive, the run stands at six straight days and $594.4 million, inside a month already down $766.4 million.