On November 2, U.S. Eastern Time, Ethereum spot ETFs experienced a significant capital withdrawal, with total single-day net outflows reaching $140 million, and selling pressure heavily concentrated in the leading products.
From the perspective of fund flow structure, BlackRock (BLK.US)'s ETHA became the primary source of outflows, recording a single-day net outflow of as much as $138 million, even though its historical cumulative net inflow remains at a high of $11.731 billion.
In sharp contrast, Morgan Stanley (MS.US) Ethereum Trust MSSE bucked the trend with a single-day net inflow of $3.1511 million, pushing its historical cumulative net inflow up to $48.2405 million.
The product only listed on NYSE Arca on July 28, 2026, and its cumulative net inflow scale differs from that of ETHA by two orders of magnitude.
Data compiled by Woofun AI shows that overall funds still registered net outflows on the day, with only Morgan Stanley's MSSE recording a small inflow, which was not enough to offset redemptions from the leading product.
This phenomenon reflects that strategic disagreements among large asset management institutions regarding Ethereum asset allocation are widening.
As Ethereum spot ETFs enter a deeper phase of operation, large-scale redemptions from leading products may become a common disturbance to overall market sentiment, and investors need to be alert to the chain reactions brought about by liquidity fluctuations in a single product.
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