Bitcoin ETFs Lose $2.1 Billion in November as Outflow Streak Hits Seven Days
In brief
- U.S. spot Bitcoin ETFs lost about $829 million this week, extending a seven-day outflow streak and bringing November outflows to roughly $2.1 billion.
- Ethereum ETFs snapped a six-day losing streak Friday but lost about $336 million on the week, and Solana ETFs shed about $28 million.
- Bitcoin traded near $64,500 over the weekend, down about 15% on the week and more than 22% over 30 days, as Fed rate fears weighed on the market.
Bitcoin ETF investors are still heading for the exits, and the price slide is speeding up.
U.S. spot Bitcoin ETFs shed $185.4 million on Friday, according to Decrypt’s ETF tracker, extending their outflow streak to seven straight trading days.
The funds lost about $829 million this week after shedding nearly $1.3 billion the week before, bringing November’s outflows to roughly $2.1 billion.
The selling so far this month has been relentless. The funds bled $1.4 billion over five sessions earlier in the streak as investors cut risk. Cumulative net inflows since launch have slipped to $55.3 billion, and total net assets fell to $94.9 billion, below the $100 billion mark they held through much of October.
Other crypto funds haven’t escaped the rout. Ethereum ETFs took in a modest $2.3 million on Friday, snapping a six-day outflow streak, but still lost about $336 million on the week and roughly $702 million so far in November. Solana ETFs shed about $28 million this week, though they retain $1.6 billion in cumulative net inflows.
→Spot crypto ETFs hold the underlying asset, such as Bitcoin or Ethereum, and trade on stock exchanges like ordinary shares, giving investors exposure through a regular brokerage account. Bitcoin funds have drawn $55.3 billion in net inflows since debuting in January 2024. Because issuers report flows daily and much of the money comes from institutions and financial advisers, the figures have become a closely watched gauge of investor sentiment.
The outflows have tracked a sharp sell-off. Bitcoin traded near $64,500 over the weekend, down 6% over 24 hours and about 15% on the week, according to CoinGecko, and it has lost more than 22% over the past month.
Ethereum fell 8.4% to about $1,790, and Solana dropped 12% to roughly $70. Total crypto market value slid 4.5% to about $2.3 trillion.
Bitcoin hit a 12-week low this week as fears of further Federal Reserve rate hikes erased its summer rally, and concentrated liquidations pushed the price below $69,000 earlier in the week.
Not every institution is retreating. JPMorgan’s holdings of Bitcoin and crypto-linked securities are approaching $1 billion, according to its most recent SEC filing. However, those purchases predate the more recent market downturn.
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