U.S. spot Ether funds recorded $2.35 billion in net outflows over seven weeks, including $1.607 billion in October, their worst month since launching in July 2024. The funds saw nine consecutive days of outflows, a category record, following a 23-day withdrawal streak in October. BlackRock’s iShares Ethereum Trust, ticker ETHA, accounted for 85% to 90% of withdrawals during the heaviest weeks, with $1.42 billion pulled out in October. Fidelity’s FETH, by contrast, recorded modest inflows. Despite the withdrawals, cumulative net inflows since launch stood at approximately $11.59 billion as of mid-November, while Ether remained in a $2,000 to $2,400 range.
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