Spot Ethereum Exchange-Traded Funds (ETFs) recorded a net inflow of $55.71 million on November 21, breaking an eight-day streak of consistent withdrawals. The positive turn was largely driven by strong performance from Fidelity, though it wasn’t enough to boost Ethereum’s struggling market price.

Fidelity Inflow Reverses Recent Trend

The recovery was spearheaded by Fidelity’s FETH, which attracted $95.4 million in new capital, bringing its cumulative net inflows to $2.54 billion. Other funds also saw positive movement, with Grayscale’s ETH mini trust adding $7.73 million and Bitwise’s ETHW securing $6.26 million. However, the gains were partially offset by a significant $53.68 million outflow from BlackRock’s ETHA. Several other ETFs, including those from Grayscale, VanEck, and Franklin, reported no new activity.

This single day of inflows comes after a difficult period for Ethereum ETFs, which saw a total of $1.3 billion withdrawn between November 11 and November 20. The most substantial redemptions occurred on November 20, with a single-day withdrawal of $261.59 million. As of November 21, the total net assets under management for all spot Ethereum ETFs stood at $16.86 billion.

Price Stagnates Amid Market Weakness

Despite the renewed interest from ETF investors, the price of ETH failed to respond. The asset continued to trade below the $2,800 level, reflecting broader selling pressure in the market. Over the past month, Ethereum has declined by 28.9%, significantly underperforming Bitcoin, which experienced a more modest pullback during the same timeframe.

The token’s recent performance underscores the persistent bearish sentiment, with its price down 12.9% for the week and 19.4% over the last 14 days. The brief halt in ETF outflows has yet to translate into a meaningful price recovery for the second-largest cryptocurrency.