Ether ETFs Lose $184.6 Million, the Most in a Day Since Oct. 6
BlackRock's ETHA made up $119.3 million of Monday's exit. Ether funds are down $549.8 million in November, with one inflow day in six.
U.S. spot ether ETFs had a net outflow of $184.6 million on Monday, Nov. 9, their biggest one-day exit since Oct. 6, when $201.9 million left, Farside Investors data show.
That leaves the funds down a net $549.8 million across November's first six trading sessions. Only one of those days, Nov. 4, brought money in ($53.0 million). In October the ether funds lost $1.61 billion in all.
BlackRock's ETHA took most of the hit
BlackRock's iShares Ethereum Trust (ETHA) accounted for $119.3 million of Monday's outflow. Grayscale's Ethereum Mini Trust, which trades under the ticker ETH, lost $25.0 million, and Fidelity's FETH lost $19.1 million. One small fund took in $1.6 million.
Bitcoin funds were no different. U.S. spot bitcoin ETFs lost a net $201.0 million on Monday, their third straight day of outflows, as BlackRock's IBIT shed $213.2 million, per Farside's bitcoin table. November's bitcoin ETF total stands at minus $1.48 billion over six sessions.
What a flow number measures
A flow figure counts shares created or redeemed, not price moves. When investors sell more ETF shares than others want to buy, large trading firms called authorized participants hand shares back to the fund. The fund then pays them out in cash or in the coins themselves, so its ether holdings shrink. An outflow day means less ether sat inside these funds at the close.
Prices moved less than 1% overnight. Ether was near $2,121 at midnight ET Tuesday, down 0.6% over 24 hours, and bitcoin was near $74,750, up 0.2%, according to CoinGecko.
The next test lands at 8:30 a.m. ET Tuesday, when the Bureau of Labor Statistics publishes October's consumer price index, on its release schedule.
In our opinion: five outflow days out of six is a ratio no fund issuer puts in a brochure. For scale, October's $1.61 billion exit took a full month, and November is already about a third of the way there with three weeks left. The flow figures for Tuesday, inflation day, are the next ones worth checking.
Sources: Farside Investors: Ethereum ETF flow (all data) · Farside Investors: Bitcoin ETF flow (all data) · CoinGecko: Ethereum · CoinGecko: Bitcoin · BLS: CPI release schedule
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