Ethereum Spot ETF Experiences Major Outflows
The Ethereum Spot ETF experienced significant outflows in November, totaling $1.4 billion, which marked an end to seven months of consecutive inflows. Data from SoSoValue indicates that cumulative net inflows have now exceeded $12.9 billion.
Compared to the Bitcoin Spot ETF, which saw outflows nearing $3.5 billion, Ethereum-focused investment funds managed to fare slightly better. Interestingly, several early ETFs dedicated to other cryptocurrencies, like Solana, dogecoin, and XRP, reported positive inflows during the same month.
Following a brief rally around Thanksgiving, Ethereum has climbed back above $3,000. However, it’s worth noting that in the past 24 hours, the second-largest cryptocurrency has experienced a nearly 9% drop.
In another development, BitMine Immersion Technology, the largest Ethereum treasury company, announced last week it had acquired an additional 96,798 tokens. This acquisition boosts its total Ethereum holdings to approximately 3.7 million tokens, as detailed in a recent press release.
Upcoming Network Upgrades
This news arrives as Ethereum developers gear up for a new network upgrade dubbed “Fusaka,” which is set to launch on Wednesday. This upgrade aims to enhance the overall experience for both users and developers.
It’s noted that Ethereum will have its second network upgrade in 2025, with the previous one occurring in May.
Sam Clare, who leads global business development at staking provider Corus One, commented that the focus of Fusaka is on fortifying Ethereum’s core principles, rather than fixating on short-term price fluctuations.
Clare remarked, “Historically, upgrades that reduce costs and enhance performance foster healthier long-term ecosystem growth, leading to more applications, increased activity, and greater value anchored on the network.” He emphasized that these foundational dynamics will ultimately influence Ethereum’s valuation.
John Kristoff, senior vice president of investor relations at ETHZilla—one of the prominent Ethereum treasury companies with around $262.7 million in tokens—added that the Fusaka upgrade solidifies Ethereum’s capacity as a payment layer capable of supporting compliant institutional-level tokenization on a larger scale.
Kristoff shared via email, “The Ethereum Fusaka upgrade is a significant advancement for the tokenization of real-world assets. It enables Layer 2 networks to handle more transactional data at a reduced cost, all while preserving Ethereum’s security. This improvement in throughput and efficiency leads to a more scalable, dependable, and economically viable architecture for tokenized assets.”
