BlackRock’s Ethereum fund sheds 580K ETH as monthly exits mount
AI summary
BlackRock's Ethereum investment product saw outflows of 580,145 ETH, worth roughly $1.32 billion, over the past month according to Lookonchain's Nov. 2 update. The data tracked transfers from wallets labeled as BlackRock Coinbase Prime as withdrawals from the product continued. Sustained redemptions of this size signal weakening institutional demand for ETH exposure and add supply-side pressure that traders will watch closely.
