Institutional demand for crypto ETFs investment products continued to weaken last week, with US spot Bitcoin exchange-traded funds (ETFs) recording more than $1 billion in withdrawals for the second consecutive week. The selling extended across most digital asset funds, leaving Avalanche ETFs as the only category among 15 tracked groups to attract net inflows.
Bitcoin ETFs lost approximately $1.07 billion between November 9 and November 13, according to SoSoValue data. Combined, US spot crypto ETFs recorded around $1.55 billion in net outflows during the week, highlighting the extent of the pullback in institutional exposure.
Bitcoin ETF Outflows Reach $2.35 Billion in Two Weeks
Selling pressure affected Bitcoin ETFs throughout the entire trading week, with all five sessions recording net withdrawals.
The funds lost $201.1 million on Monday, followed by $95 million on Tuesday. Outflows accelerated to $299.9 million on Wednesday and $284 million on Thursday before reaching another $185.5 million on Friday.
BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $143.5 million of Friday’s withdrawals, representing roughly 77% of the day’s total. Fidelity’s FBTC recorded another $41.9 million in outflows, while the remaining 10 funds reported no net flows. Bitcoin ETFs have now lost approximately $2.35 billion in November after just nine trading sessions. Their year-to-date balance has also turned increasingly negative, reaching around $1.98 billion in net outflows for 2026.
The withdrawals came as Bitcoin dropped below $69,000 on Friday, reaching its lowest level since August 20. The cryptocurrency subsequently extended its losses, trading near $65,650 on Saturday, according to The Block’s price data.
Ethereum ETFs Approach Another Record Outflow Streak
Ethereum investment products also experienced another difficult week, recording approximately $398.9 million in net withdrawals.
The latest decline marked the seventh consecutive negative week for US spot Ether ETFs, bringing cumulative outflows since late September to approximately $2.42 billion. The category has previously recorded two eight-week outflow streaks, meaning another negative week would bring it close to matching that record.
Monday produced the largest withdrawal of the week, with approximately $184.5 million leaving the funds. Wednesday and Thursday followed with outflows of $144.8 million and $70.6 million, respectively.
Friday offered a small improvement, as the funds attracted approximately $2.4 million in net inflows, ending a six-session withdrawal streak worth $594.4 million. Fidelity’s FETH brought in $11.6 million, offsetting a $9.3 million outflow from Grayscale’s Ethereum Mini Trust.
Solana, XRP, and Other Crypto Funds Continue to Lose Capital
The selling extended beyond Bitcoin and Ethereum, with most other cryptocurrency ETF categories also recording weekly withdrawals.
Spot Solana ETFs lost approximately $32.1 million, marking their sixth consecutive negative week. The latest streak is the longest since the funds launched in October 2025 and has drained approximately $197.4 million from the products.
The funds also recorded outflows during every trading session last week, bringing their daily losing streak to seven sessions. Despite the withdrawals, Solana ETFs remain positive for 2026, with approximately $644.1 million in net inflows accumulated since their launch.
Zcash ETFs experienced another significant decline. Grayscale’s ZCSH fund, currently the only US spot Zcash ETF, recorded $30.7 million in weekly withdrawals. Its net assets fell 32% to $523.7 million.
XRP ETFs also faced renewed selling, losing approximately $19.1 million during the week. This marked their second consecutive negative week and the largest weekly outflow since mid-March.
Institutional Demand Remains Under Pressure as Bitcoin Falls
The latest ETF figures point to a broader retreat from cryptocurrency investment products, with Bitcoin and Ethereum accounting for most of the capital leaving the market.
Bitcoin ETFs have now recorded their largest monthly outflows since June, while Ethereum products are approaching another historically long withdrawal streak. The continued selling across Solana, XRP, Zcash, and other altcoin funds suggests that the weakness is not limited to the two largest cryptocurrencies.
However, the limited inflows into Avalanche funds show that some investors are still allocating capital to selected digital assets despite the wider downturn.
For Bitcoin, the immediate challenge will be whether institutional demand can stabilize after nearly $2 billion in withdrawals over seven consecutive sessions. A reversal in ETF flows could help improve sentiment, while continued redemptions may add further pressure as the market attempts to recover from its recent decline.
Will Ethereum and altcoin ETFs recover alongside Bitcoin, or are investors becoming more selective about their crypto exposure?
