US spot 
Ethereum market price and chart exchange-traded funds recorded a combined $99.9 million in net outflows on November 5, reversing the previous session’s positive flows as redemptions at BlackRock-managed products accounted for most of the total. The withdrawals offer a fresh view of institutional fund positioning, but do not by themselves establish that every category of Ethereum investor was selling.
Farside Investors’ fund-by-fund flow table reports $75.2 million leaving BlackRock’s iShares Ethereum Trust ETF, known as ETHA, and $22 million leaving its staked Ethereum product, ETHB. Fidelity’s FETH recorded about $2.2 million in withdrawals, while Grayscale’s ETHE showed a smaller outflow of roughly $0.5 million.
BlackRock products account for most reported withdrawals
Together, ETHA and ETHB represented $97.2 million in net withdrawals. That is almost the entire reported category total for the session, making the two BlackRock funds the main contributors to the negative daily reading. The figures describe changes in money flowing through the funds, not a direct measurement of blockchain transfers by each fund investor.
Farside’s rounded figures show no net flows for several other listed Ethereum funds on November 5. Rounding also means the sum of individually displayed figures may not exactly reproduce every headline total. The table is an aggregated third-party market dataset rather than an issuer filing, and daily numbers may be revised.
Net outflows are commonly interpreted as investors withdrawing capital from ETF exposure. However, the data cannot identify the motivations of specific holders. Portfolio rebalancing, liquidity needs, changing risk preferences and broader financial-market developments can all affect flows.
Flows reverse a positive Wednesday session
The latest negative day followed November 4 inflows of approximately $53 million across US spot Ethereum ETFs. The prior day’s gains therefore were not enough to offset the November 5 redemptions. Farside also lists November 2 outflows of $139.7 million and November 3 outflows of $85.3 million, underlining the uneven pattern early in the month.
For market participants, the sequence is more informative than a one-day number viewed in isolation. Repeated withdrawals can signal weaker demand through regulated fund channels, while a later reversal might point to renewed allocations. Neither interpretation should be promoted as a certain forecast for the spot price of ETH.
What ETF flows can and cannot establish
Spot Ethereum funds give investors exposure through regulated exchange-traded products. Flow data capture subscriptions and redemptions in those vehicles, but exclude trading in self-custody wallets, crypto exchanges, derivatives and other institutional arrangements. It is therefore inaccurate to describe the $99.9 million fund outflow as a comprehensive measure of all Ethereum selling.
Different fund structures and investment strategies can also create different redemption patterns. The inclusion of a staking-oriented fund alongside conventional spot products warrants care when comparing their investor bases, fee structures and performance.
Farside’s displayed cumulative Ethereum ETF net flows remain positive at approximately $12.04 billion despite the latest withdrawals. That running total provides longer-term context, although it does not erase the significance of repeated redemptions in recent sessions.
Future sessions will show whether the November 5 reading becomes part of a sustained withdrawal trend. For now, the supported finding is narrower: reported outflows were substantial on the day, concentrated heavily in two BlackRock funds, and followed a brief positive session.
