Crypto ETFs Lost $1.67 Billion in 5 Days — Bitcoin Funds Just Flipped Negative for All of 2026

In five trading days, investors pulled $1.67 billion out of US spot crypto ETFs — every single one of the four major funds bled at once, Bitcoin ETFs erased their entire 2026 gain in a single week, and Ethereum funds notched their sixth straight week of losses. Bitcoin now trades around $74,500, down more than 8% in November, and the next test arrives fast: the October CPI report lands Tuesday morning, November 10, at 8:30 a.m. ET, and it is the last inflation reading the Federal Reserve sees before its December 8–9 meeting.

This is not a normal red week. The scale, the breadth, and the timing all point to the same thing: institutional investors are de-risking ahead of a macro event they cannot control.

The $1.67 Billion Week in One Table

Between November 2 and November 6, 2026, all four US-listed spot crypto ETF categories recorded net outflows in the same week — Bitcoin, Ethereum, Solana and XRP funds all ended the period in negative territory, according to SoSoValue data reported by The Block. That breadth is what makes this week different from the single-asset outflow days the market has seen before.

ETF category	Net flow, Nov 2–6	Streak / milestone
Bitcoin (BTC)	-$1.28 billion	Worst week since late June; 7th-worst week since launch; 2026 flows now negative
Ethereum (ETH)	-$365.28 million	6th straight week of outflows; ~$2.02 billion gone since late September
Solana (SOL)	-$26.3 million	5th straight week of outflows; longest losing streak since launch
XRP	$0 reported net flow	No net movement reported for the week (CoinGlass data)
Hyperliquid (HYPE) ETFs	Outflows (amount not separately disclosed)	5th straight week of outflows, matching Solana
Combined total	~-$1.67 billion	All four categories negative in the same week

For context, the total crypto market capitalization fell by roughly $150 billion to about $2.57 trillion during the same stretch, and Bitcoin dropped to a 12-week low near $73,510 before stabilizing, according to KuCoin's daily market report. The selling was not confined to crypto funds: it arrived alongside a broader risk-off move that also hit tech stocks, and it came with more than $1 billion in liquidations as leveraged long positions were wiped out over November 8–9.

If you are new to how these funds work, start with our explainer on what a Bitcoin ETF is and how spot ETFs work — the flow numbers below only make sense once you know that an outflow means investors redeemed more shares than they bought, forcing the fund to sell the underlying coins.

Bitcoin ETFs Just Erased Their Entire 2026

The headline number is the Bitcoin figure: $1.28 billion in net outflows in a single week, the heaviest weekly redemption since the week ending June 26, 2026, and the seventh-worst week for the 12 US spot Bitcoin funds since they launched, as CryptoTimes reported from the same SoSoValue data. The withdrawals were so large that they pushed aggregate 2026 net flows into negative territory — minus $914.1 million for the year.

After eleven months of trading, the funds that were supposed to be the permanent institutional on-ramp for Bitcoin have now taken in less money in 2026 than they have given back — a psychological line as much as a financial one.

One fund did almost all of the damage. BlackRock's iShares Bitcoin Trust (IBIT) lost about $1.21 billion during the week — roughly 94% of all Bitcoin ETF outflows. Friday alone saw $411.9 million leave the Bitcoin funds, with IBIT accounting for $403 million of it, about 88% of the day's gross redemptions. IBIT is now on a six-day outflow streak, with $1.44 billion pulled since October 30.

Not every fund bled. Fidelity's FBTC bucked the trend with $93.1 million in net inflows — but one buyer cannot offset a $1.21 billion seller, and the net figure is what moves the market.

Bitcoin's price tells the same story. The coin traded near $74,500 on Monday, November 9, down 4.6% on the week and more than 8% so far in November. It briefly dipped to $73,510 on Sunday — its lowest since August 21 — on about $856 million of mostly long liquidations, and it now sits roughly 41% below its all-time high of $126,080. The Fear and Greed Index reads 29, firmly in "Fear" territory.

There is one more number that matters here, and it is not an ETF figure at all: Bitcoin is now trading below Strategy's average cost basis of about $75,451. The world's largest corporate Bitcoin holder is, on paper, underwater on its most recent purchases — and that changes the narrative around the trade that powered so much of the 2025 rally.

For the longer view on where Bitcoin stands technically, see our analysis of Bitcoin's 200-day moving average at $73,170 — the line that decides whether this is a correction or the end of the bull market — and our report on Bitcoin's fifth straight losing week, only the third such streak since 2017.

Ethereum's Six-Week Bleed Hits $2.02 Billion

If Bitcoin's week was bad, Ethereum's six weeks have been worse in aggregate. US spot Ethereum ETFs lost $365.28 million during the November 2–6 week, extending their losing streak to six consecutive weeks. Since late September, continuous weekly redemptions have drained approximately $2.02 billion from spot Ether products — a slow, grinding exit that has now lasted a month and a half.

BlackRock's ETHA accounted for most of the exits, losing about $345.96 million, while Fidelity's FETH took in a modest $15.34 million. The funds had exactly one positive session — Wednesday, with $53 million in inflows — surrounded by steady redemptions on Monday, Thursday and Friday.

The cumulative damage is stark: Ether funds are now down roughly $405.6 million for 2026, with total net assets falling to $12.84 billion. And the investors who remain are sitting on losses — Bloomberg analyst James Seyffart noted in early November that the average cost basis of ETF-held Ether stood at $3,182 against a market price of roughly $2,341 at the time, leaving aggregate unrealized losses of nearly $3.47 billion.

History offers one warning: Ether ETFs have twice before recorded eight-week negative streaks, most recently in early July. At six weeks and counting, the current run is two weeks from matching that record — and the pace picked up late last week rather than slowing down.

Ethereum itself traded around $2,128–$2,244 over the weekend, down 7.1%–7.5% on the week — a steeper drop than Bitcoin's — and total value locked in Ethereum apps has slipped to about $43 billion from nearly $50 billion earlier in the month. ETF outflows can reverse in a day; a shrinking DeFi base takes longer to rebuild.

Anyone considering whether the current prices are a buying opportunity should read our honest guide, Is Bitcoin a Good Investment in 2026?, and the step-by-step guide to buying a Bitcoin ETF — both explain the difference between catching a falling knife and buying a dip with a plan.

Solana, XRP and Hyperliquid: The Quiet Streaks Nobody Noticed

Spot Solana ETFs dropped $26.3 million last week, with almost all of the redemptions occurring on Friday — a concentrated, end-of-week exit rather than a slow bleed. Both Solana and Hyperliquid ETFs have now recorded five consecutive weeks of net outflows, their longest losing streaks since launching.

XRP funds reported zero net flows for the week, according to CoinGlass data — neither inflows nor outflows. That sounds neutral until you look at the price: XRP was among the hardest-hit major cryptocurrencies, falling 13% during the week, including a 6% drop in a single day to around $1.09. The ETF funds did not sell, but the spot market did, and hard.

Solana traded near $89.84 on Saturday morning, and Hyperliquid's HYPE token near $77.79. When the smallest, newest funds are also losing money five weeks in a row, the driver is market-wide risk appetite, not any single coin's fundamentals.

Why Institutions Are Selling Now: Three Drivers

Outflows do not happen in a vacuum. Three forces converged in the first week of November, and together they explain why the selling was so broad and so heavy.

1. The Fed turned hawkish again. The Federal Reserve's October 28 decision held the funds rate at 3.75%–4.00%, but the meeting shifted market expectations toward a possible further hike at the December meeting. The Fed's own data shows a 25-basis-point hike effective September 17, and traders are now pricing meaningful odds of another move in December. Higher expected rates mean higher real yields and a stronger dollar — both of which pressure non-yielding assets like Bitcoin, especially in leveraged markets. The October CPI report on Tuesday is the last inflation data the Fed sees before December, which is why this week's selling looks like positioning ahead of a number, not a reaction to one.

2. The deleveraging wave is still washing through. The drop over November 8–9 wiped out more than $1 billion in leveraged positions, mostly longs, and Sunday's plunge to $73,510 liquidated about $856 million. Forced selling begets forced selling: liquidations push prices down, which triggers more liquidations, which pushes ETF investors to redeem.

3. The "number go up" story broke. Bitcoin is down more than 8% in November, down 10.5% over 30 days, and 41% below its all-time high — despite a full institutional infrastructure of ETFs, corporate treasuries and regulatory frameworks that prior cycles lacked. The average ETF investor is now underwater. When the flagship corporate holder is below its cost basis and the largest ETF is losing $400 million a day, the momentum buyers who drove the 2025 rally have no reason to step in, and the sellers have every reason to keep going.

What Happens Next: 3 Scenarios for the CPI Print

Everything now funnels into Tuesday, November 10, at 8:30 a.m. ET, when the Bureau of Labor Statistics releases the October CPI report. Economists expect monthly headline inflation of 0.2%–0.3%, down from 0.6% in September, with core CPI near 0.2% month over month. Annual headline inflation is forecast around 3.6%, slightly below September's 3.7%, and core inflation is expected to hold at 2.6%–2.7% annually. A cooler reading could ease rate-hike odds, soften the dollar and support risk appetite; a hotter print would do the opposite. Neither outcome dictates Bitcoin's price on its own — but with the market this fragile, the reaction will be sharp either way.

Scenario	CPI outcome	Likely Bitcoin reaction	What to watch
Cool print (bullish)	Monthly headline 0.2% or below; core soft	Relief rally toward $76,000–$78,000; ETF outflows slow or reverse	IBIT daily flow turns positive; BTC reclaims $75,625
As expected (base case)	Monthly headline 0.2%–0.3%; core ~0.2%	Sideways $73,500–$75,900; volatility fades; focus shifts to Fed meeting	Whether the $73,510 low holds on the next test
Hot print (bearish)	Monthly headline above 0.3%; core sticky	December hike odds jump; BTC tests $73,510, then $70,000	A daily close below the 200-day average near $73,170

The base case, according to several desks, is sideways trading in the $73,500–$75,900 range with roughly 50% probability. The key levels are clear: on the downside, the $73,500–$74,000 zone that marked Monday morning's low, then the 200-day average around $73,170; on the upside, $76,000, then the 50-day average near $82,000. A hot CPI print that breaks the 200-day average would put $70,000 in play.

Beyond CPI, the calendar stays busy: PPI follows later in the week, and the Fed's December 8–9 meeting — the final gathering of the year — will set the rate path into 2027. The November CPI itself does not arrive until December 10, the day after the decision, so the November 10 number carries unusual weight: it is the last full inflation reading the Fed gets before it decides.

What Most People Get Wrong About ETF Outflows

Outflow headlines are easy to misread. Three misconceptions keep circulating, and each one distorts the picture.

"Outflows mean institutions have given up on Bitcoin." Wrong, or at least premature. ETF flow data measures net creations and redemptions; it does not capture every institutional holder. Some investors sell ETF shares and buy spot Bitcoin directly, or rotate into other vehicles. What the data does show is that the ETF channel — the easiest, most liquid way for institutions to hold crypto — is seeing net selling right now. That is a real signal, but it is a signal about the channel, not a verdict on the asset.

"A $1.28 billion outflow means $1.28 billion of Bitcoin was sold." Not exactly. Redemptions force the fund to sell underlying Bitcoin, but the price impact depends on how much of the selling hits the market at once — which is why Friday's $411.9 million outflow day coincided with the sharpest moves. The flow number is a flow number, not a liquidation total.

"ETF investors are the dumb money." The data cuts both ways. A DWF Labs analysis covered on this site found ETF investors sold on 7 of 8 major sell-offs — they are reactive, not contrarian. But they are also the largest single source of incremental demand when sentiment turns: the same funds that lost $1.28 billion last week took in $1.1 billion in a single week earlier in the cycle. The flows amplify the trend in both directions, which is why the flip to negative for the year matters.

Checklist: What to Watch This Week

• Tuesday, November 10, 8:30 a.m. ET: October CPI — monthly headline 0.2%–0.3% expected, core near 0.2%. The single most important number of the week.
• Daily IBIT flows: BlackRock's fund drove 94% of last week's Bitcoin outflows. A positive day would be the first sign the bleeding is stopping.
• The $73,510 low: Sunday's 12-week low. A second test that holds is constructive; a break opens the way to $70,000.
• Ethereum's streak: Six weeks of outflows and counting. Week seven would extend the run toward the eight-week record set in early July.
• Wednesday's ETF flows: Last week Wednesday was the only positive day for Ether funds (+$53 million). Watch whether buyers show up mid-week again.
• Fear and Greed at 29: Extreme fear has historically marked local bottoms — but only when a catalyst arrives to change the story. CPI could be that catalyst, in either direction.

Frequently Asked Questions

How much money left crypto ETFs last week?

Approximately $1.67 billion in combined net outflows during the November 2–6 trading week, according to SoSoValue data reported by The Block. Bitcoin ETFs lost $1.28 billion, Ethereum ETFs lost $365.28 million, Solana ETFs lost $26.3 million, and XRP ETFs reported zero net flows.

Are Bitcoin ETFs negative for 2026 now?

Yes. The $1.28 billion weekly outflow pushed aggregate 2026 net flows for US spot Bitcoin ETFs to minus $914.1 million. After eleven months of trading, the funds have given back more money in 2026 than they have taken in — a sharp reversal from the inflow story that defined the first half of the year.

Why is BlackRock's IBIT losing so much money?

IBIT is the largest spot Bitcoin ETF by far, so it dominates the flow numbers in both directions. Last week it lost about $1.21 billion, roughly 94% of all Bitcoin ETF outflows, including $403 million on Friday alone. The fund is on a six-day outflow streak with $1.44 billion pulled since October 30. Its size makes it the default vehicle for institutions reducing exposure.

How long have Ethereum ETFs been losing money?

Six consecutive weeks, with about $2.02 billion withdrawn since late September. Ether ETFs have twice before recorded eight-week negative streaks, most recently in early July, so the current run is two weeks away from matching that record. The funds are down roughly $405.6 million for 2026.

Does the CPI report really move Bitcoin?

Yes, through interest-rate expectations. Hotter-than-expected inflation raises the odds of further Fed tightening, which supports the dollar and higher real yields and pressures non-yielding assets like Bitcoin. Cooler data does the reverse. The October CPI report on November 10 is the last inflation reading before the Fed's December 8–9 meeting, so its impact on rate expectations — and therefore on Bitcoin — is unusually large this time.

Should I sell my Bitcoin ETF holdings?

That depends on your time horizon, risk tolerance and why you bought in the first place — no article can answer it for you. What the data does say: ETF flows amplify trends in both directions, the current trend is down, and the next two catalysts (CPI on Tuesday and the Fed meeting on December 8–9) will decide whether this is a washout or the start of a longer drawdown. If you are deciding between an ETF and holding Bitcoin directly, our comparison of Bitcoin ETF vs buying Bitcoin directly lays out the trade-offs.

Conclusion

The $1.67 billion week is not a single fund's bad day — it is the whole institutional crypto complex selling at once. Bitcoin ETFs flipped negative for the year, Ethereum funds stretched their losing streak to six weeks, Solana and Hyperliquid funds hit five, and the market's biggest corporate holder is underwater on its cost basis. The numbers are unambiguous about what happened. What they cannot tell us is what happens next, and that answer now belongs to a single data point: Tuesday's CPI report.

If inflation cools, the selling has a natural stopping point — the flows can reverse as fast as they turned, and the funds that lost $1.28 billion in a week have taken in more than that in a single week before. If it runs hot, the December hike odds climb, the 200-day average gives way, and $70,000 comes into view. Either way, the era in which ETF inflows were a one-way tailwind for crypto is over for now. Watch the flows, watch the $73,510 low, and watch Tuesday at 8:30 a.m. ET.

This article is for informational purposes only and does not constitute financial advice. ETF flow data is sourced from SoSoValue via The Block and CryptoPotato reporting, and figures may be revised by data providers.