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US Spot Ethereum ETFs See Net Outflows for 23 Straight Trading Days, Longest Streak Since Launch
US spot Ethereum exchange-traded funds (ETF) recorded net outflows for 23 consecutive trading days as of Nov. 1, Glassnode reported. This is the longest such streak since these products launched, though specific outflow amounts were not provided.
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What happened
US spot Ethereum exchange-traded funds (ETF) recorded net outflows for 23 consecutive trading days as of Nov. 1, Glassnode reported. This is the longest such streak since these products launched, though specific outflow amounts were not provided.
Confirmed
Global impact / market context
Spot Ethereum ETFs let traditional investors gain Ethereum exposure without holding the token directly. A record streak of withdrawals signals weakening demand from regulated-market investors, which may reduce buying support for Ethereum and pressure its price.
Analyst inference
Flows from investors who bought Ethereum in August and September have reversed into net outflows, a shift Glassnode cited as evidence that earlier buying interest is losing momentum. ETF flows are widely watched as a gauge of traditional finance demand.
Analyst inference
What to watch
- Glassnode did not disclose cumulative net outflow figures or flows for individual ETF products, so the scale of withdrawals remains unclear from this report alone. Confirmed
- Watch whether the streak extends past 23 days; a continued run of withdrawals would reinforce the view that regulated-market demand for Ethereum is fading. Analyst inference
- Watch whether August and September buyers keep selling. Their shift to net outflows is the specific driver Glassnode highlighted for the weakening demand picture. Analyst inference
Affected assets
- ETH — Ethereum