Bitcoin ETFs lose $1.28bn in a week and turn negative for 2026
Why it matters
If you sell crypto funds to clients, note that this selling came as US tech stocks fell, not from crypto-specific news. ETF money is behaving like other risky assets when markets turn.
Post to XThe short version
US funds that hold bitcoin and trade on the stock market saw investors pull out $1.28bn in the week to Friday 6 November, the worst week since late June, according to The Block. That leaves the 12 funds with about $914m more money out than in for 2026 so far.
Here's what happened. Investors took $1.28bn out of the 12 US spot bitcoin ETFs last week, according to SoSoValue data cited by The Block. Spot ETFs are funds that hold the coins themselves and trade like shares.
Four of the five days were negative. Thursday (-$430.2m) and Friday (-$411.9m) did the most damage, The Block said. Wednesday was the only day with money coming in, at $74.6m.
Put it in context. The funds started the week about $368m up for the year. They now sit roughly $914m down for 2026, according to The Block. It was the second losing week in a row and the worst since late June.
BlackRock's IBIT accounted for about $403m of Friday's exits. FBTC, which led Thursday's selling with $199.9m out, took in $42.8m on Friday.
Why the selling? Bitcoin fell 5.6% on Thursday alone, The Block said. CoinDesk reported that the drop followed a 5.5% fall in the Nasdaq, with analysts at FalconX and GSR pointing to worries that Democrats' sweep of Congress could slow AI data-centre building.
Ether funds lost $365.3m over the week, their sixth losing week in a row, according to The Block.
Where this comes from
Written with AI from the sources above and checked against them before publishing. Here's how we work. This is news, not financial advice. Spotted a mistake? Tell us.