Ethereum Foundation Wallet Sales Dwarfed by ETF Outflows - Bitcoin Foundation

Lookonchain tracked two separate orders of 1,000 ETH each, placed minutes apart through CoW Swap on November 13. The trades were valued at approximately $3.87 million.

This latest sale is a footnote against November’s broader ETH pressure. US spot Ethereum ETFs have already logged $695.9 million in net outflows this month.

The outflows have been relentless, with seven of the eight November trading sessions ending in net withdrawals. Combined net assets fell from $13.22 billion on October 30 to $11.65 billion on November 11.

SoSoValue data puts November’s net withdrawals from US spot Ethereum ETFs at $695.9 million, roughly 87 times the dollar value of the Foundation-linked wallet’s November sales.

The selling sequence started on October 26 with 2,785 ETH sold for $6.42 million. Two earlier batches of 1,000 ETH went out earlier in the week, bringing the cumulative total to 6,785 ETH.

After those trades, the wallet held about 11,000 ETH, valued at roughly $21.3 million. That remaining balance is large enough to keep the address on watchlists as November’s ETF flow story plays out.

ETH Drops Below $2,000

ETH dropped 13% over the week and slipped below $2,000 by November 13, per CryptoPotato’s analysis. The old round number has since flipped to resistance.

Reclaiming $2,000 would be the clearest sign of recovery from last week’s selloff. Without it, ETH stays on the wrong side of a level it held for much of the year.

The coverage pointed to August 18 as the previous comparable trading period. Ethereum broke out of its summer range the following day and climbed above $2,500 within a week.