US spot Bitcoin exchange-traded funds recorded $412 million in net outflows on November 6, according to data aggregated by SoSoValue. The redemptions marked the second consecutive day of heavy withdrawals and pushed the category's year-to-date net flows slightly negative.
BlackRock dominates outflows
BlackRock's iShares Bitcoin Trust (IBIT) accounted for approximately $403 million of the total outflow. In contrast, Fidelity's Wise Origin Bitcoin Fund (FBTC) saw inflows of $42.8 million, standing out as the only major fund with positive flows on the day.
The divergence suggests that investors were not uniformly exiting Bitcoin ETF products; rather, the headline outflow was largely driven by redemptions from a single fund.
Ethereum ETFs also see redemptions
Spot Ethereum ETFs recorded $93.19 million in net outflows on November 6, with BlackRock products among the larger contributors. This followed outflows of approximately $100 million on November 5.
Two-day trend turns year-to-date negative
The November 6 outflows came after Bitcoin ETFs lost about $430 million on November 5. By early November 2026, cumulative net flows for Bitcoin ETFs this year had turned slightly negative, with a decline of roughly $502 million since the start of the year.
Despite the negative year-to-date figure, Bitcoin ETFs held around $96.65 billion in assets as of early November 2026, indicating that the outflows represent a small fraction of the total base.
Macro backdrop
The redemptions coincided with a technology stock selloff and a significant decline in Nasdaq indices. Sentiment was also cautious following the US midterm elections. Bitcoin was trading near $75,000 to $76,000 while the outflows occurred.
Investor takeaway
The inflow into FBTC provides a counterpoint to the overall negative flow, showing that demand for Bitcoin ETF exposure has not disappeared entirely. The concentration of outflows in IBIT means the headline number partly reflects decisions by holders of that specific product.
For Ethereum, the outflow of $93.19 million on November 6 followed about $100 million the prior day, mirroring the broader trend in crypto ETF products.
