Ethereum reserves on tracked exchanges fell to about 14.5 million ETH as of Nov. 2, a level last seen in 2016, according to CryptoQuant. That is down from a 2020 peak of roughly 35 million ETH, meaning about 20.5 million ETH, or 58.6%, has left tracked platforms.
Binance reserves decline
Binance’s ETH reserves fell to 3.08 million ETH, approaching levels last recorded in late 2020. The exchange’s reserves are down about 1.82 million ETH, or 37.1%, from a 2025 peak of 4.9 million ETH. Binance now holds about 21.2% of total exchange reserves, with the remaining 11.42 million ETH held across other tracked platforms.
Lower exchange reserves mean less ETH is readily available for spot selling. They do not guarantee a price increase, but they could ease selling pressure and create more favorable conditions for price appreciation if buying demand picks up.
ETF outflows continue
U.S. spot Ethereum ETFs recorded their worst month since launch, with $1.61 billion in outflows in October, according to SoSoValue data. That surpassed the previous record of $1.42 billion set last November. The funds had only three days of net inflows in October: $24.84 million on Oct. 13, $14.96 million on Oct. 21, and $4.35 million on Oct. 23.
Selling pressure carried into November, with another $139.8 million withdrawn on Nov. 2. Ethereum was around $2,245 at the time of the report.
