US Ethereum Spot ETFs Record Sixth Consecutive Week of Net Outflows as Some Large Holders Increase Positions

TechFlow reported on Nov. 9, citing BeInCrypto, that US Ethereum spot ETFs saw net outflows of $365.3 million last week, marking the sixth consecutive week of net outflows, with cumulative six-week outflows of about $2 billion.

Meanwhile, some large addresses increased their ETH holdings. Citing on-chain monitoring, the report said a whale borrowed 22 million USDT on Nov. 9 and bought 10,000 ETH for approximately $21.55 million; another address had withdrawn a cumulative 16,577 ETH from Binance during the previous week.

Citing CryptoQuant data, the report said Ethereum exchange reserves fell to 14.62 million ETH, down from approximately 16.9 million at the beginning of the year.

Source: TechFlow