Bitcoin ETFs lose $1 billion for the second week in a row as crypto funds, except one, continue bleeding

The 12 U.S. spot bitcoin funds have lost $1.91 billion over seven straight trading days, and no other crypto ETF categories, save one, saw any net inflows last week.

U.S. spot bitcoin Bitcoin BTC-4.27% ETFs saw $1.07 billion in net outflows last week, their second straight week with more than $1 billion leaving the funds, per The Block's analysis of SoSoValue data. The last time the funds posted back-to-back $1 billion outflow weeks was in late May and early June.

The selling stretched to nearly every crypto ETF category. Of the 15 groups of U.S. spot crypto funds tracked by SoSoValue, 10 posted net outflows last week and four reported no flows at all. Avalanche Avalanche AVAX-9.90% funds were the only category with a weekly inflow, taking in a minute $227,000 on Thursday. Overall, U.S. spot crypto ETFs saw about $1.55 billion in total leave the funds.

The bitcoin funds saw outflows in all five days last week. They lost $201.1 million on Monday, $95 million on Tuesday, $299.9 million on Wednesday, $284 million on Thursday and $185.5 million on Friday.

Combined with the $1.28 billion that left the funds the week before, bitcoin ETFs have now shed $2.35 billion over two weeks. That is the largest two-week total since the fortnight ending June 5, when the funds lost $3.14 billion.

Bitcoin funds deepen 2026 losses with seven-day outflow streak

Friday's outflow was the bitcoin funds' seventh consecutive daily loss, a losing streak that has drained $1.91 billion from the funds since it began Nov. 5. It is the longest daily outflow streak since the 10-session stretch from June 17 to July 1, which drained about $2.71 billion, as The Block reported at the time.

BlackRock's IBIT accounted for $143.5 million of Friday's outflows, or about 77% of the total, per SoSoValue. Fidelity's FBTC lost $41.9 million, and the other 10 funds reported no flows. IBIT currently holds bitcoin worth $53.99 billion against $64.19 billion in cumulative inflows since launch.

Spot Bitcoin ETF total net flows over the past month, via The Block's data.

Bitcoin ETFs have come to lose $2.35 billion in November after nine trading days, already their largest monthly outflow since June, when $4.51 billion left the funds. They are now down about $1.98 billion for 2026, more than double the $914.1 million deficit they carried a week earlier after flipping negative for the year.

The outflows came as bitcoin dropped below $69,000 early Friday, its lowest level since Aug. 20 at the time, as traders weighed Jensen Huang's resignation as Nvidia CEO and expectations of another Federal Reserve rate hike, as The Block reported. The world's most valuable cryptocurrency fell further on Saturday morning, currently trading around $65,650, per The Block's Bitcoin price page.

Ether funds approach record outflow streak

Spot ether Ethereum ETH-4.63% ETFs lost $398.9 million last week, per SoSoValue, their seventh consecutive negative week; the category has twice posted eight-week outflow streaks, most recently when it matched that record in early July, so another negative week would tie it again.

The seven-week losing streak has pulled about $2.42 billion from the funds since late September, per SoSoValue's data. Monday's $184.5 million outflow was last week's largest, followed by $144.8 million on Wednesday and $70.6 million on Thursday.

A minuscule $2.4 million inflow on Friday ended a six-trading-day outflow streak worth $594.4 million. Fidelity's FETH drew $11.6 million that day, offsetting a $9.3 million outflow from Grayscale's Ethereum Mini Trust, while BlackRock's ETHA reported no flows.

Ether ETFs are now down about $804.5 million for 2026, nearly double the $405.6 million deficit from a week earlier. Net assets fell 15.5% over the week to $10.85 billion, their lowest since Aug. 18 and about $670 million below the funds' $11.52 billion in cumulative net inflows.

Altcoin funds extend outflows, save for one

Spot Solana ETFs lost $32.1 million last week, per SoSoValue, their sixth straight negative week and the longest such run since the funds launched in October 2025. The outflow streak began the same week the funds snapped a record 14-week inflow run, and it has drained $197.4 million since.

The Solana funds posted outflows in every session last week, extending their daily losing streak to seven days. Fidelity's FSOL accounted for all of Friday's $3.1 million outflow. Net assets fell to $1.14 billion from $1.31 billion a week earlier, though, unlike their BTC and ETH brethren, the funds remain about $644.1 million positive for the year.

Grayscale's Zcash fund, ZCSH, the only U.S. spot Zcash ETF, lost $30.7 million, nearly as much as the nine Solana funds combined, per SoSoValue. It was the fund's second straight negative week, and the outflow matched an early-October week as its largest since late September. ZCSH's net assets fell 32% over the week to $523.7 million.

Spot XRP ETFs shed $19.1 million, per SoSoValue, their largest weekly outflow since mid-March and a second straight negative week. Most of it left on Monday and Tuesday, at $10.4 million and $7.6 million, respectively. On Friday, Grayscale's GXRP lost $5.5 million while Franklin's XRPZ took in $4.5 million.

The three U.S. Hyperliquid ETFs lost $4.3 million, extending their weekly outflow streak to six, the longest since they began trading in May, per SoSoValue. Smaller funds tracking NEAR, Chainlink, Hedera and Polkadot lost between $99,000 and $1.4 million each. The BNB, Dogecoin, Tron and Litecoin funds reported no flows for the week.

The Avalanche funds’ modest $227,000 inflow on Thursday, their only day with any net flows, formed the only black in a sea of red last week.