Ethereum price holds €2,000 as ether ETFs log a sixth straight week of outflows

The Ethereum price stands at around $2,235 on Saturday evening, November 7, or just over €2,004. For investors in Germany, that is the number that counts: overnight into Friday, ether fell to €1,991 according to CoinGecko's daily data, its first drop below €2,000 since late August. The price has held just above that level since, while the exchange-traded ether funds in the US report outflows for the sixth week in a row.

What is confirmed: between November 2 and 6, the US spot ether ETFs lost a net $365 million or so, with $93.19 million on Friday alone. Our assessment follows further down. As long as these flows do not turn, the price lacks the buyer that carried it above €2,000 in the summer. Where the price could head over a horizon of months is covered in our Ethereum price prediction.

Ethereum price on Saturday: $2,235 and a range of just $25

After the slide from Thursday into Friday, weekend trading is calm. Over the past 24 hours the range ran from $2,223 to $2,249 according to CoinGecko, on trading volume of around $4.6 billion. That puts ether's market capitalisation at about $273 billion. The weekly change is minus 0.7 percent, the 30-day change minus 7.4 percent.

Against bitcoin, ether did not lose further ground this week. One ether currently costs 0.0295 bitcoin, and bitcoin itself trades at around $75,760. The gap to the all-time high of $4,946 from August 2025 is just under 55 percent.

What has changed since our last price article: on Friday afternoon we had put the Ethereum price at around $2,230 after the US jobs report. The $2,200 level has held since then and the price has barely moved. New are the weekly ETF tally and a further drop in sentiment: the Fear and Greed Index from alternative.me reads 25 points on Saturday, in extreme fear territory, after 28 on Friday and 50 on Thursday.

Ether ETFs lose $365 million: a sixth straight week of outflows

A spot ether ETF is an exchange-traded fund that buys and holds actual ether. When money flows out, the fund redeems shares and usually sells the corresponding amount of ether on the market. The flows of these funds are therefore one of the few measures that show demand from financial markets on a daily basis.

The week's tally based on SoSoValue data: $139.7 million flowed out on Monday and $85.3 million on Tuesday. On Wednesday, the day after the US midterm elections, $53 million came in. Thursday saw outflows of around $100 million and Friday a further $93.19 million. That adds up to a net figure of just over $365 million, and according to the portal The Crypto Times it is the sixth consecutive week of outflows.

Almost all of Friday's outflow came from a single fund. BlackRock's iShares Ethereum Trust (ETHA) lost $90.76 million, Grayscale ETH $1.91 million and Fidelity FETH $1.67 million, as TokenPost reports, citing SoSoValue. The only fund with an inflow was BlackRock's staking fund, ETHB, with $1.15 million. Assets under management across all ether ETFs stand at $12.84 billion, equal to 4.71 percent of ether's market capitalisation. Since launch, the funds have taken in a net $11.92 billion.

Why ether fell below €2,000 on Friday: liquidations and tech stocks

The slide itself began on Thursday afternoon. According to crypto.news, ether dropped more than 8 percent within 24 hours after a push towards $2,450 failed. The portal names the sell-off in technology and semiconductor stocks on the Nasdaq on November 5 as the trigger. CoinGlass data show that ether positions worth more than $210 million were forcibly closed in those 24 hours, $179 million of them on the long side.

A liquidation is the forced closure of a leveraged position when the posted collateral no longer covers the loss. Because the exchange sells automatically, liquidations amplify a downward move. Open interest in ether futures, meaning the value of all open positions, fell to about $11.4 billion by Friday according to CryptoQuant, from almost $16 billion at the end of September. Part of the leverage has therefore left the market.

Ether on exchanges: only 14.6 million ETH left on trading venues

The blockchain itself provides a counterweight to the ETF outflows. According to CryptoQuant data, around 14.6 million ether were still held on centralised exchanges on Friday, compared with more than 21 million at the start of 2025. Anyone who withdraws coins from an exchange usually wants to hold, stake or self-custody them rather than sell in the short term.

This figure is not a buy signal, however. Withdrawals can also mean that ether is moving into staking, DeFi applications or the custodians of funds. The number only shows that the supply available for immediate sale on trading venues has shrunk. If demand drops away at the same time, as the ETF flows suggest, that does not automatically support the price.

Ethereum in euros: why the €2,000 mark matters for investors in Germany

Most analyses talk about dollar levels. Anyone buying ether in Germany pays in euros, though, and the exchange rate shifts the picture. At around $2,235 and €2,004, CoinGecko is currently working with one euro at about $1.115. A dollar price of $2,200 therefore equals just under €1,975, and the $2,000 level only around €1,795.

A look at the current year shows why €2,000 in particular plays a role. According to CoinGecko's daily data, ether traded below €2,000 on most days from February 2 to August 21, with a low for the year of €1,362 on June 7. Only on August 22 did ether close clearly above it, at €2,153. The level has held for ten weeks since then, including at the end of October, when the price sat just above it at €2,001. Friday's brief slide to €1,991 was the first daily close below it since the summer.

For tax in Germany, only the euro value matters. Anyone who bought above €2,000 in late summer is currently slightly in the red or breaking even. Selling within the holding period would therefore mean only a small loss, or none at all. Anyone who bought below €2,000 in the spring, by contrast, is sitting on a gain that becomes tax-free after a holding period of one year.

The levels in euros and dollars

On the upside, the first hurdle lies at around €2,150 to €2,160. That is where ether closed on August 22 when it broke above €2,000, and on November 5 before the slide. In dollar terms, the crypto.news analysis cites $2,350 and then the zone from $2,440 to $2,450, where ether was rejected this week. On the downside, the €2,000 mark is followed by the $2,200 level, which has held since Friday. If it breaks, crypto.news sees the next support at around $2,100 and $2,000, or roughly €1,885 and €1,795.

Ethereum price and ETF flows: our assessment

In the newsroom's view, the direction over the coming weeks will be decided by fund flows rather than technical levels. One argument for this is that the ETFs, with $12.84 billion, now hold almost 5 percent of all ether, and their flows were negative on five of six trading days this week. A single day of inflows on Wednesday was not enough to lift the price above $2,450. Against this, leverage in the futures market has already been cut by about a quarter and the exchange balance keeps falling. A market with less leverage and less supply on trading venues reacts faster to new inflows.

Our conclusion: as long as the weekly balance of the ether ETFs stays negative, the €2,000 mark is more a test than a floor. A first week of net inflows would be the signal that has been missing since the end of September. This is an assessment of the situation, not a recommendation to buy or sell.

Buying an ether ETF in Germany: the options

Retail investors in Germany generally cannot buy the US spot ETFs from BlackRock, Fidelity or Grayscale directly, because there is no key information document for them under EU law. Anyone wanting to hold ether in a securities account turns to exchange-traded products from Europe, mostly in the form of ETNs or ETPs. Which ones exist, and what to look for on costs and collateral, is covered in our overview Buying a crypto ETF in Germany.

The direct route is buying on a crypto exchange. Since the end of Germany's transition period for the EU's MiCA regulation, providers that sell ether to German customers need a licence as a crypto-asset service provider. Whether a provider holds one is shown in the public register of the European Securities and Markets Authority, ESMA. Fees, spreads and withdrawal costs vary considerably; you can compare them in our crypto exchange comparison.

Holding ether in Germany: holding period, staking and custody

In Germany, gains from selling ether are tax-free under Section 23 of the Income Tax Act if more than one year passes between purchase and sale. Within that period, an exemption limit of €1,000 a year applies to all private sales transactions combined. Exceed it by even one euro and the entire gain becomes taxable. Whether and when the holding period will change is something we track in our update on the holding period reform.

According to the Federal Ministry of Finance's guidance, staking does not extend the holding period to ten years. Staking rewards are, however, taxable as other income when received, with a separate exemption limit of €256 a year. If you have staked, record the inflows with their date and euro value, because the tax office will ask for them.

The calculation becomes messy with several purchases at different prices. Anyone who bought below €2,000 in the spring and above it in the autumn holds two tranches with different holding periods and different cost bases. A tax tool that merges purchases from exchange and wallet works this out using the FIFO method that is standard in Germany; you will find a selection in our crypto tax software comparison.

If you want to hold ether for longer, think about custody. On an exchange, the coins legally belong to the customer, but technically the provider manages them. A hardware wallet keeps the private key offline. The recovery phrase belongs on paper or metal, never in a photo or a cloud. Which devices support ether is shown in our hardware wallet comparison.

Ether at €2,000: only a week of ETF inflows would change the picture

Three steps you can check this weekend:

1. Check how you buy: If you want to add to your position, check the provider's MiCA licence first and compare fees and spreads in the exchange comparison. A limit order at one of the levels mentioned protects you against fills in thin weekend order books.
2. Clarify your tax position: Note the purchase date and euro cost for each tranche. That way you can see which holdings are already tax-free and which would produce a loss on a sale below €2,000 that can be offset against gains. A tax tool does the maths for you.
3. Secure your custody: If you want to hold ether beyond the year, withdraw it from the exchange and keep it yourself. Suitable devices are listed in the hardware wallet comparison.

Cryptocurrencies are highly volatile, and a total loss of the money invested is possible. Only invest what you can afford to lose.

(As of November 7, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)