Ether ETFs Shed $184.6M in a Day as BlackRock Leads Redemptions

The latest numbers from US spot Ether exchange-traded funds are another reminder that crypto’s institutional wrappers do not always move in sync with the networks beneath them. Farside Investors reports $184.6 million of net withdrawals on Monday, November 9. BlackRock’s ETHA accounted for $119.3 million, making it the largest identifiable contributor to the day’s negative reading. TL;DR: US spot Ether ETFs lost $184.6 million on November 9. BlackRock’s ETHA recorded $119.3 million in outflows, with additional withdrawals from several other products. The latest session extends a run of weakness, but ETF flows alone cannot tell investors whether Ethereum’s network use or long-term adoption is improving. The distribution of Monday’s redemptions Monday’s fund table is more revealing than a single headline number. Besides ETHA, the negative entries included Grayscale’s ETH product at $25 million, BlackRock’s ETHB at $20.8 million, Fidelity’s FETH at $19.1 million and TETH at $2 million. Morgan Stanley’s MSSE reported a smaller $1.6 million positive flow. Netting these issuer-level movements produces Farside’s total of $184.6 million leaving the category. It was the third consecutive ne...