Fidelity's $11.6 Million Inflow Drives Ethereum (ETH) ETFs to $2.3 Million Net Gain

Fidelity Ends a Six-Day Outflow Run

United States spot Ethereum (ETH) funds had gone six consecutive trading days without a net inflow, a stretch that began on Nov. 5 and ran through Nov. 12. On Nov. 13 the ledger turned, though by the thinnest of margins: the eleven spot ETFs took in a combined $2.3 million, their first day of net demand in more than a week, per the funds' daily creation and redemption disclosures. Fidelity's FETH did all of the work, taking in $11.6 million, while the rest of the lineup gave back $9.3 million, every dollar of it leaving through Grayscale's smaller Ethereum trust, which trades under the ticker ETH. BlackRock's ETHA and the products run by Bitwise, VanEck, Franklin Templeton, Morgan Stanley, 21Shares and Invesco Galaxy sat the session out entirely, ETHE included. The market around the print has not improved. The Ethereum price sits at $1,873 as of writing, down 4.7% over the past 24 hours and 1.4% below its level when the flow data landed early on Saturday. Spot ETF creations add coins to fund custody and redemptions pull them out, so the sign of the daily net figure is the cleanest read on institutional appetite through these vehicles.

Friday's demand arrived through one issuer's product rather than across the group, a concentration that matters when weighing the turn's durability. A $2.3 million session does not undo a month of red ink, and nothing in the print shows institutional demand returning in size; what it establishes is narrower, that the daily bleeding was not locked in and could stop on ordinary, small-scale buying. The market is boxed in around the flow print. Ethereum (ETH) trades at $1,873 at the time of writing, just under the strongest floor on our support and resistance scorecard, $1,874.66, a level rated 93/100 where the session low, the 1.000 Fibonacci retracement and the value-area low all meet. The nearest ceiling, $1,967.96, carries the same 93/100 rating, and the full ladder of levels sits in our Ethereum technical analysis. Positioning does not argue for a quick resolution in either direction: funding on perpetual futures holds at 0.0006%, effectively neutral, and open interest stands at $7.09 billion. Our aggregate sentiment index reads 13/100, deep in extreme fear. A decisive close through either line is what would redraw the short-term picture.

$398.9 Million Out in Five Days

Scale is the issue. Over the five trading days from Nov. 9 through Nov. 13, the same fund group recorded $398.9 million in net outflows, and Friday's $2.3 million recovers less than 1% of that. BlackRock's ETHA, the largest product of the set, accounted for $311.1 million of the five-day total and reported nothing on Friday; its sibling ETHB shed another $25 million. FETH's own weekly ledger stays negative despite the Friday purchase, at $12.1 million out. Grayscale's mini trust lost $43 million across the stretch, Bitwise's ETHW $4.8 million, VanEck's ETHV $2.9 million, Franklin Templeton's EZET $0.8 million and 21Shares' TETH $1.2 million. Two products took in money for the week, Morgan Stanley's MSSE at $1.6 million and Invesco Galaxy's QETH at $0.4 million. The selling was concentrated rather than broad: a single fund carried roughly three-quarters of the five-day figure. The pattern has defined Ethereum (ETH) products all month, and it built day by day through the session our desk logged as the sixth straight outflow day of the run. Monthly totals frame how heavy it has been: November's net outflow stood at $764.1 million through Nov. 13, on top of October's $1.61 billion. The lifetime ledger reads differently. Since the funds began trading in July 2024, cumulative net inflows total $11.55 billion, with a sharp split inside that figure: BlackRock's ETHA has collected $11.21 billion while Grayscale's ETHE, the converted trust that predated the ETF wave, has lost $5.53 billion to redemptions. Two months of selling have trimmed that base without overturning it.