BlackRock’s Ethereum fund sheds 580K ETH as monthly exits mount

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 c...