US Ethereum spot ETF sees six consecutive weeks of net outflows as some large investors increase holdings

On November 9, according to BeInCrypto, U.S. spot Ethereum ETFs experienced net outflows of $365.3 million last week, marking six consecutive weeks of outflows with a cumulative total of approximately $2 billion over the six-week period.

Meanwhile, some large addresses have increased their ETH holdings. Citing on-chain monitoring, the report stated that a whale borrowed 22 million USDT on November 9 and purchased 10,000 ETH for approximately $21.55 million; another address cumulatively withdrew 16,577 ETH from Binance during the prior week.

Citing CryptoQuant data, the report indicated that Ethereum exchange reserves have fallen to 14.62 million, compared to approximately 16.90 million at the start of the year.