BlackRock recorded outflows of 580,145 ETH worth about $1.32 billion over the past month, according to Lookonchain’s Nov. 2 update, as withdrawals continued from its Ethereum investment product.
Summary
- BlackRock’s monthly Ether outflows reached 580,145 ETH, valued at approximately $1.32 billion, according to Lookonchain.
- ETHA accounted for nearly 77% of daily Ether withdrawals in the analytics firm’s latest snapshot.
- Fidelity attracted 27,067 ETH over seven days, partially offsetting withdrawals from competing Ethereum funds.
- Farside’s October figures show BlackRock’s ETHA lost approximately $1.42 billion across the calendar month.
Lookonchain’s monthly update showed transfers from wallets labeled as BlackRock Coinbase Prime deposit addresses to Coinbase Prime hot wallets. Its accompanying transaction image listed movements ranging from roughly 3,197 ETH to nearly 29,814 ETH.
In a separate ETF holdings table, the analytics firm put BlackRock’s iShares Ethereum Trust ETF holdings at 3,095,551 ETH. Across the Ethereum products included in that snapshot, combined holdings stood at 5,513,954 ETH, leaving ETHA with approximately 56.1% of the tracked total.
Ethereum withdrawals remain concentrated in BlackRock’s ETHA
The ETF snapshot recorded daily net withdrawals of 44,837 ETH, valued at $102.12 million, across the Ethereum funds it tracked.
ETHA accounted for 34,383 ETH of those withdrawals, or approximately 76.7% of the total. Grayscale’s combined ETHE and ETH products lost 9,015 ETH, followed by 1,418 ETH from Fidelity’s FETH and 21 ETH from Bitwise’s ETHW.
VanEck’s ETHV and the products grouped under “Others” recorded no daily net movement in the table.
Over seven days, BlackRock’s withdrawals reached 169,205 ETH, exceeding the entire tracked group’s net outflow of 147,585 ETH. Fidelity moved in the opposite direction, attracting 27,067 ETH during that period.
Grayscale lost 5,426 ETH over the same window, while Bitwise recorded withdrawals of 21 ETH. Together, movements outside BlackRock produced a net inflow of 21,620 ETH, partially offsetting ETHA’s withdrawals.
Despite its daily loss, Fidelity remained the only Ethereum issuer in the snapshot with a positive seven-day balance.
October flow records show sustained ETHA selling
Separate Farside data puts ETHA’s October net withdrawals at approximately $1.4205 billion, calculated by adding its rounded daily figures. The fund recorded no positive session during the month, although three sessions finished with zero net flows.
Across all Ethereum products in Farside’s table, October withdrawals totaled approximately $1.6072 billion. ETHA therefore accounted for about 88.4% of the category’s monthly net outflow.
During Oct. 26–30 alone, ETHA lost $391.1 million. Its final October session recorded $76.6 million in withdrawals, while the full Ethereum ETF category lost $155.7 million.
Lookonchain’s $102.12 million daily estimate is a separate snapshot from Farside’s Oct. 30 figure. The Nov. 2 post presents token movements and their dollar equivalents without identifying a matching U.S. trading session.
As crypto.news previously reported, October’s final ETF session left Ethereum funds with $431.4 million in weekly withdrawals. Bitcoin funds finished that five-session period with $202.4 million in net outflows.
Bitcoin’s BlackRock fund retains a positive seven-day balance
Lookonchain’s Bitcoin table showed daily withdrawals of 7,919 BTC, worth approximately $614.26 million, compared with seven-day withdrawals of 2,292 BTC worth $177.81 million.
BlackRock’s IBIT lost 3,056 BTC in the daily snapshot but retained a seven-day inflow of 2,038 BTC. Fidelity’s FBTC recorded withdrawals of 2,630 BTC for the day and 2,196 BTC over seven days.
ARK 21Shares’ ARKB lost 1,694 BTC across both periods. Grayscale’s combined products and Bitwise recorded smaller withdrawals, while the funds grouped under “Others” posted modest inflows.
Within BlackRock’s products, the seven-day figures therefore showed opposing balances: IBIT remained positive while ETHA recorded the largest Ethereum withdrawal in the table.
ETHA’s redemption process runs through authorized participants
ETHA’s SEC filing describes a passive investment vehicle designed to track Ether’s price before expenses. Individual investors cannot redeem shares directly with the trust; registered broker-dealers with the necessary agreements, known as authorized participants, handle that process.
The filing permits redemptions through delivery of Ether or cash proceeds from selling the corresponding Ether. For cash transactions, the trust can trade with counterparties directly or use Coinbase Prime.
Lookonchain’s wallet images identify transfers between labeled addresses, without identifying the underlying ETF investors or their trading strategies. Neither supplied post attributes the withdrawals to basis-trade unwinds.
In-kind redemptions became permissible following SEC orders issued July 29, 2025, and an effective registration amendment two days later.
