Ether has barely moved on the week, yet the money behind it keeps leaving. If you hold ETH, the number to watch is no longer the price on the screen but who is still willing to buy it.

US spot Ether ETFs lost about $365 million in the five trading days to Friday, November 6, according to Farside Investors data reported by KuCoin News. That is the sixth week in a row of net withdrawals, and it came with ETH sitting near $2,235, or roughly €2,000, based on CryptoTicker's Saturday figures.

The price tells a calmer story than the flows. ETH was down just 0.7% over the week and about 7.4% over 30 days, CryptoTicker reported. The ETFs, meanwhile, have now shed money through the entire stretch.

BlackRock's iShares Ethereum Trust (ETHA) did most of the damage. It lost $90.8 million on Friday alone and about $346 million across the week, according to the same Farside tallies. Grayscale's ETH fund shed $1.91 million on Friday and Fidelity's FETH $1.67 million, which are rounding errors next to BlackRock's exit.

The daily path was ugly and uneven. Outflows hit $139.7 million on Monday, $85.3 million on Tuesday, $99.9 million on Thursday and $93.3 million on Friday. Wednesday was the only green day, with $53 million coming in.

Circle's USDC moved $1.62 trillion across Ethereum in October, and Tether's USDT added another $895.5 billion. Over the same stretch, CryptoQuant data shows daily active addresses fell 24%, from around 480,000 in mid-August to 363,000 by late October. - ethereum stablecoin transfer volume october 2024 - USDC USDT daily transfer records blockchain

So who is buying? Not many. The one bright spot on Friday was BlackRock's staking product, ETHB, which took in $1.15 million. That's a small sum, but it's worth noticing that the only fund pulling in money was the one that pays you a yield for holding the coin. Total ETF assets stand at about $12.84 billion, CryptoTicker said, and October was far worse, with $1.61 billion leaving the funds, per KuCoin's reporting.

I'd be wary of reading Friday's stability as conviction. Flat prices during outflows usually mean somebody else is absorbing the supply, and a $1 million inflow into one staking fund doesn't explain that on its own.

Is the chip selloff behind it?

Partly, and the timing fits. On Thursday, November 5, a rout in semiconductor stocks pushed the Nasdaq down almost 4%, with the SOX chip index losing more than 9%, according to CryptoTicker. Bitcoin fell from $78,767 to $75,986 within an hour, and ether dropped more than 6%. CoinGlass data cited in that report put forced liquidations above $560 million.

The crypto sentiment gauge followed. The Fear & Greed Index read 25 on Saturday, the edge of extreme fear. Later numbers were calmer: CryptoTicker counted just over $210 million in liquidations over 24 hours, $179 million of it from longs.

But the ETF bleed began long before one bad day for chips. Six weeks of redemptions can't be pinned on a single Thursday. The selloff gave traders a reason to cut risk, yet the funds were already losing money in October.

The levels traders are watching

Frankly, ETH is stuck in the middle of its year. It sits about 55% below its August 2025 record of $4,946, per CryptoTicker, and well above the 2026 low of €1,362 hit on June 7. The summer breakout peaked at €2,153 on August 22, a level the market hasn't retaken.

For the next few sessions, the lines are fairly clear. KuCoin's analysis puts first support at $2,200 to $2,205, then $2,170 to $2,180, with $2,100 as the round-number floor and $2,000 below that. On the upside, resistance starts at $2,270 to $2,300, and a clean push there would open $2,400 to $2,500. CryptoTicker marks €2,150 to €2,160 as the euro-side ceiling.

XRP's US spot ETFs recorded no net inflows from November 3 to 6, while $365 million left Ethereum funds the same week. XRP still trails every other top-five coin, trading below its 200-day average of $1.27 with $0.99 the next marker. - why XRP dropped 7 percent this week - why XRP is falling while Ethereum holds

If $2,200 breaks while ETHA keeps bleeding at this pace, $2,100 becomes the live question. If the funds flip back to inflows, as they did on Wednesday, the $2,270 to $2,300 band is where you'll find out whether anyone wants to pay up.

One caveat on the figures: they come from Farside's daily data as relayed by KuCoin and CryptoTicker, and issuer-level totals can be revised once the funds report final numbers. Neither outlet gave a full-week breakdown for every issuer. Farside's next weekly tally lands after Monday's session.

Also read: Democrats' midterm win leaves crypto exposed over its Trump ties • XRP drops 7% in a week while Ethereum holds, with no ETF buyers to step in • Strategy's 849,327 bitcoin are worth barely more than Saylor paid for them

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