Institutional demand for crypto investment products kept softening last week, as US spot Bitcoin exchange-traded funds (ETFs) suffered over $1 billion in withdrawals for a second straight week. Redemptions spread across nearly the entire digital asset fund sector, leaving Avalanche ETFs as the sole category among 15 tracked groups to secure net inflows.
Based on SoSoValue data, Bitcoin ETFs dropped roughly $1.07 billion between November 9 and November 13. Taken together, US spot crypto ETFs saw roughly $1.55 billion in net outflows over the course of the week, underscoring the depth of the pullback in institutional holdings.
Bitcoin ETF Outflows Reach $2.35 Billion in Two Weeks
Selling pressure persisted across Bitcoin ETFs throughout every trading session of the week.
The funds shed $201.1 million on Monday, followed by $95 million on Tuesday. Losses then picked up pace to $299.9 million on Wednesday and $284 million on Thursday, before concluding with an additional $185.5 million on Friday.
BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $143.5 million of the Friday redemptions, which made up about 77% of that day’s aggregate total. Fidelity’s FBTC posted another $41.9 million in outflows, while the remaining 10 funds experienced flat flows. Over the first nine trading sessions of November, Bitcoin ETFs have shed about $2.35 billion. Their year-to-date performance has likewise shifted firmly into negative territory, registering roughly $1.98 billion in net outflows for 2026.
These withdrawals coincided with Bitcoin dipping below $69,000 on Friday to hit its lowest mark since August 20. The digital currency subsequently extended its decline, changing hands near $65,650 on Saturday according to price data from The Block.
Ethereum ETFs Approach Another Record Outflow Streak
Ethereum investment vehicles likewise endured a difficult week, pulling in roughly $398.9 million in net redemptions.
This recent drop marked the seventh consecutive negative week for US spot Ether ETFs, lifting total outflows since late September to approximately $2.42 billion. Because the category previously logged two separate eight-week outflow streaks, one more negative week would put it within striking distance of that historic benchmark.
Monday generated the heaviest withdrawal of the week, with roughly $184.5 million exiting the products. Wednesday and Thursday came next with outflows of $144.8 million and $70.6 million, respectively.
Friday brought a mild reprieve as the funds captured about $2.4 million in net inflows, halting a six-session withdrawal streak that had totaled $594.4 million. Fidelity’s FETH brought in $11.6 million, which absorbed a $9.3 million outflow from Grayscale’s Ethereum Mini Trust.
Solana, XRP, and Other Crypto Funds Continue to Lose Capital
The sell-off reached beyond Bitcoin and Ethereum, with most other cryptocurrency ETF categories also posting weekly redemptions.
Spot Solana ETFs gave up roughly $32.1 million, marking their sixth straight negative week. This current slide is the longest since the funds debuted in October 2025 and has pulled about $197.4 million out of the assets.
Furthermore, these funds registered outflows on every single trading day last week, extending their daily losing streak to seven sessions. Even with the withdrawals, Solana ETFs maintain a positive standing for 2026, holding roughly $644.1 million in net inflows gained since their inception.
Zcash ETFs faced another steep contraction. Grayscale’s ZCSH fund—currently the sole US spot Zcash ETF—reported $30.7 million in weekly redemptions, causing its net assets to slide 32% down to $523.7 million.
XRP ETFs also encountered renewed selling pressure, dropping about $19.1 million over the week. This represented their second consecutive negative week and the largest weekly outflow recorded since mid-March.
Institutional Demand Remains Under Pressure as Bitcoin Falls
The latest ETF metrics point to a wider withdrawal from cryptocurrency investment vehicles, with Bitcoin and Ethereum driving the bulk of capital leaving the space.
Bitcoin ETFs have now marked their largest monthly outflows since June, while Ethereum products edge closer to another historically prolonged withdrawal sequence. Persistent liquidations across Solana, XRP, Zcash, and other altcoin funds indicate that the weakness extends well beyond the two leading cryptocurrencies.
Nevertheless, the modest inflows into Avalanche funds indicate that certain investors continue to channel money into targeted digital assets despite the broader market correction.
For Bitcoin, the immediate test will be whether institutional appetite can stabilize following nearly $2 billion in outflows across seven straight sessions. A turnaround in ETF flows could help lift market sentiment, whereas ongoing redemptions may heap on extra pressure while the asset tries to rebound from its recent slide.
Will Ethereum and altcoin ETFs recover alongside Bitcoin, or are investors becoming more selective about their crypto exposure?
Written by
Yuki Yamamoto
