Institutional demand for cryptocurrency ETF investment products continued to weaken last week, with US spot Bitcoin exchange-traded funds recording more than $1 billion in withdrawals for the second consecutive week. US spot crypto ETFs recorded around $1.55 billion in net outflows during the week, according to SoSoValue data.
Bitcoin ETFs lost approximately $1.07 billion between November 9 and November 13, with selling pressure affecting the funds throughout the entire trading week. All five trading sessions recorded net withdrawals, with daily outflows ranging from $95 million to $299.9 million. BlackRock's iShares Bitcoin Trust accounted for $143.5 million of Friday's withdrawals, representing roughly 77% of the day's total, while Fidelity's FBTC recorded another $41.9 million in outflows.
Bitcoin ETFs have now lost approximately $2.35 billion in November after just nine trading sessions. The withdrawals came as Bitcoin dropped below $69,000 on Friday, reaching its lowest level since August 20, and subsequently extended its losses to near $65,650 on Saturday.
Ethereum and Altcoin ETFs Face Continued Pressure
Ethereum investment products recorded approximately $398.9 million in net withdrawals, marking the seventh consecutive negative week for US spot Ether ETFs. Since late September, cumulative outflows reached approximately $2.42 billion. The category has previously recorded two eight-week outflow streaks, meaning another negative week would bring it close to matching that record.
Spot Solana ETFs lost approximately $32.1 million, marking their sixth consecutive negative week and the longest losing streak since the funds launched in October 2025. Zcash ETFs experienced a significant decline, with Grayscale's ZCSH fund recording $30.7 million in weekly withdrawals and net assets falling 32% to $523.7 million. XRP ETFs lost approximately $19.1 million during the week.
Avalanche ETFs were the only category among 15 tracked groups to attract net inflows, while selling pressure extended across most other digital asset funds.
Broader Market Implications
Bitcoin ETFs have now recorded their largest monthly outflows since June, while the continued selling across multiple cryptocurrency categories suggests weakness is not limited to the two largest cryptocurrencies. The latest ETF figures point to a broader retreat from cryptocurrency investment products, with Bitcoin and Ethereum accounting for most of the capital leaving the market.
