Overview
- Ethereum fell below $3,500 after three straight days of U.S. spot ETH ETF redemptions totaling $363.8 million, according to SoSoValue.
- On Nov. 3, ETH ETFs recorded $135.76 million in net outflows, led by $81.7 million from BlackRock’s ETHA, with additional redemptions from Fidelity and Grayscale.
- Bitcoin funds saw $186.51 million pulled on Nov. 3 entirely from BlackRock’s IBIT, taking four-day withdrawals to about $1.33 billion.
- Newly launched altcoin products drew cash, including $70.05 million into Solana ETFs and $22.06 million into Hedera, while Litecoin took in $855,880.
- Combined strategic reserves and ETF holdings have declined by 124,060 ETH since Oct. 16, and analysts highlight bearish setups projecting potential downside toward $2,870 if outflows persist.