U.S. Ether Funds Record $184.6 Million in Outflows on Nov. 9
Key Facts
U.S. spot Ether funds recorded net outflows of $184.6 million in the Nov. 9, 2026 session, according to Farside Investors’ table, in one of the largest withdrawal waves recorded among the November sessions shown. BlackRock’s iShares Ethereum Trust, ticker ETHA, accounted for the largest share of outflows, with net withdrawals of $119.3 million. Other amounts were spread across different Ether funds, while one fund recorded a limited inflow. This followed two consecutive days of net outflows on Nov. 5 and 6, before the larger withdrawal on Nov. 9. BlackRock shares closed at $1,214.71 in the same session, according to EL7 data.
ETHA outflows reached about $119.3 million, exceeding those of the other funds in the session. ETH recorded net outflows of $25 million, while withdrawals from ETHB totaled about $20.8 million and those from ETHE about $19.1 million. In the opposite direction, MSSE attracted an inflow of $1.6 million. Several other funds recorded no net movement in the table, or showed flows at zero. The session’s net total therefore remained negative, as outflows from the funds with the largest activity outweighed the limited inflow.
The Nov. 9 figures reflect volatility in the direction of flows during the week, rather than uninterrupted withdrawals in every session. Funds recorded net inflows of $53 million on Nov. 4, then shifted to outflows of $99.9 million on Nov. 5 and $93.3 million on Nov. 6. Net outflows then rose to $184.6 million in the Nov. 9 session. Data from the start of the month also show net outflows of $139.7 million on Nov. 2 and $85.3 million on Nov. 3. These comparisons place the Nov. 9 move within a run of mixed sessions, while making it the largest net outflow among the November sessions cited here.
Cumulatively, Farside’s table showed net flows into Ether funds of $11,766.5 million through Nov. 10, 2026, according to the table’s date. Cumulative flows for ETHA reached about $11,403.7 million through the same date. These figures follow a notable expansion in the fund’s assets during the third quarter; its quarterly report filed with the U.S. Securities and Exchange Commission said net assets rose 130.61%, from $4,292,908,953 on June 30 to $9,900,024,143 on September 30, 2026. The report also said Ether’s price rose 69.11% during the quarter, from $1,593.01 to $2,693.88. By contrast, the report cited a 9.34% price decline between December 31, 2025 and September 30, 2026, from $2,971.55 to $2,693.88.
iShares data show ETHA’s net assets stood at $6,251,410,553 on Nov. 9, 2026, and its net asset value fell that day by $2.33, or 4.61%. The fund’s report says it “generally seeks to reflect the performance of the price of Ether” before its expenses and liabilities. In market coverage dated Nov. 9, Reuters reported that Bitcoin and Ether touched their lowest levels in more than two months amid concerns about potential regulatory tightening following the U.S. midterm elections. The flow figures document net movements of money in the funds, but do not by themselves identify investors or their motives. The figures therefore do not by themselves establish that the outflows reflect institutional selling, nor are they sufficient to establish a link between them and the performance of the Ethereum network.