Crypto
Bitcoin ETFs Lost $1.28B in a Week, Erasing 2026's Inflows
US spot bitcoin ETFs saw net outflows of about $1.28 billion in the week to November 6, the most since late June, turning their 2026 flows negative.
Four of the five trading days last week ended with money leaving the US spot bitcoin funds. Net outflows across the 12 ETFs came to about $1.28 billion in the week to Friday, November 6, according to SoSoValue data analysed by The Block, the largest weekly outflow since late June and the second negative week in a row after a $202.6 million outflow the week before. It ranks seventh among all weekly outflows since the funds launched in January 2024.
The selling built through the week. The funds lost $399 million on Monday and $116 million on Tuesday, took in $74.6 million on Wednesday, the day the midterm results lifted stocks, and then lost $430.2 million on Thursday and $411.9 million on Friday as technology shares sold off and the Nasdaq slipped into a correction. BlackRock's iShares Bitcoin Trust accounted for about $1.21 billion of the total, including $403 million on Friday alone, while Fidelity's FBTC lost $199.9 million on Thursday and then took in $42.8 million the next day.
The week flipped the year's balance. Net flows for 2026 went from about $368 million of inflows to about $914 million of outflows, The Block calculated, and total assets in the funds fell 2.3% to $95.9 billion, about 6.3% of bitcoin's market value. Ether ETFs had their sixth straight weekly outflow, $365.3 million, and are now down about $405.6 million for the year.
Price and flows moved together. Bitcoin touched a seven-week low of $74,888 on Binance on Friday and was trading near $75,880 on Saturday morning, about 6% below the $80,504 it closed at on Wednesday. The odds of a Federal Reserve rate hike in December, which rose to about 77% after the stronger October jobs report, weigh on assets that pay no yield. The timing suggests the redemptions followed the price and the slide in technology stocks rather than starting it.
Flows are a useful gauge of who is selling, not a forecast. ETF holders are mostly advisers and institutions who rebalance alongside their equity books, so their redemptions tend to cluster on days when stocks fall, as they did on Thursday and Friday. Tuesday's October consumer price report is the next test: a soft reading would ease the pressure from rates, while another week of nine-figure redemptions would show the selling has spread beyond the post-election shock.