Ethereum price under pressure as spot ETF outflows extend streak

Ethereum price remains under pressure as institutional flows and the timing of the network's next major upgrade point in the same cautious direction. U.S. spot Ether ETFs recorded net outflows of 139.80 million US dollars on November 2, according to TokenPost. That extended the withdrawal streak to six consecutive trading days.

ETF redemptions remain the focus

The TokenPost report, citing SoSoValue data, said total net assets across the 11 U.S. spot Ether ETFs stood at 13.18 billion US dollars, while cumulative net inflows remained 12.15 billion US dollars. BlackRock's ETHA accounted for 138.31 million US dollars of the latest withdrawals and its ETHB staking fund lost another 4.63 million US dollars. Morgan Stanley's MSSE was the only fund listed with an inflow, at 3.15 million US dollars. Total trading volume across the products reached 577.79 million US dollars.

These figures describe fund flows, not a direct measure of every market participant's positioning. They nevertheless provide a visible indicator of demand through regulated investment products. The persistence of withdrawals is therefore an important near-term variable for the Ethereum price, particularly while other reported buyers have not offset the redemptions.

Upgrade timing adds uncertainty

A second issue is the timetable for Glamsterdam, Ethereum's next planned hard fork. Admirals reported that developers postponed the Hoodi testnet activation and had not set a new date. The delay allows further investigation of how EIP-8037's proposed gas changes interact with existing mainnet smart contracts. The issue concerns a testnet, and the report said Ethereum Foundation guidance indicated that mainnet users and Ether holders did not need to take action.

Market snapshot for investors

Investing.com displayed ETH at 2,248.95 US dollars at 21:51:12 Berlin time on November 3. The page showed a market capitalization of 274.22 billion US dollars, 24-hour volume of 11.67 billion US dollars, rank two and a circulating supply of 122.18 million ETH. Its displayed 52-week range was 1,507.60 to 3,913.85 US dollars. The page also showed a 0.65 percent change, but no verified UTC previous-day close was used here as a daily comparison basis.

For investors, the current setup combines persistent ETF selling with uncertainty over a technology milestone. A reversal in fund flows or a confirmed Hoodi schedule could change the near-term narrative; until then, the data point to a market that remains sensitive to institutional demand and development updates.

More Ethereum coverage is available on the Ethereum topic page.