Key Highlights

  • US spot Bitcoin Exchange-traded funds recorded net outflows of USD 1.28 billion in the week to November 6, 2026, the worst week since late June, with iShares Bitcoin Trust (NASDAQ:IBIT) accounting for about USD 1.21 billion.
  • The exits pushed year-to-date net flows for spot bitcoin funds to roughly negative USD 914 million, turning 2026 negative for the group.
  • Spot ether funds lost about USD 365.3 million over the same week, their sixth consecutive week of outflows.
  • Selling continued on November 9, 2026, with bitcoin funds losing about USD 201 million and ether funds about USD 185 million, as bitcoin traded near USD 75,000.

Where the Money Left

The outflows were concentrated in the largest fund. iShares Bitcoin Trust (NASDAQ:IBIT) accounted for about USD 1.21 billion of the USD 1.28 billion in weekly redemptions, including about USD 403 million on Friday, November 6, alone. Daily outflows of USD 430.2 million on November 5 and USD 411.9 million on November 6 were the heaviest of the week, and only Wednesday saw a net inflow, of USD 74.6 million. Some funds bucked the trend, with one rival product gathering about USD 42.8 million on Friday. Because the largest fund is held widely by advisers and institutions, its flows are often read as a gauge of mainstream demand. Persistent selling there signals that investors who bought bitcoin exposure through regulated products are trimming risk rather than adding, a shift from the steady accumulation seen earlier in the cycle.

The Macro Drivers

The main pressure came from Interest Rate expectations. A strong October jobs report, with payrolls up 165,000 against expectations near 65,000, lifted the probability of a quarter-point Federal Reserve increase in December to around 81%. Higher rates raise the appeal of cash and bonds relative to Assets that produce no income, such as bitcoin. The 10-year Treasury Yield stood near 4.87%. Crypto also traded alongside technology stocks during the AI-led selloff in early November, when the Nasdaq Composite fell 5.52% on November 5. Even as equities rebounded strongly on November 9, 2026, fund flows stayed negative, suggesting that investors were using the rally to reduce exposure. Leveraged positions were also unwound, with liquidations across crypto Derivatives adding to selling pressure and keeping prices pinned in the mid USD 70,000 range.

What to Watch for Bitcoin Funds

Traders are watching support for bitcoin between about USD 74,400 and USD 75,000, with resistance near USD 80,000 and USD 84,000. A clear break below support could trigger further redemptions from funds such as iShares Bitcoin Trust (NASDAQ:IBIT), while a recovery above USD 80,000 would likely bring buyers back. The October consumer price index, released on November 10, is the next macro catalyst, since a softer reading could reduce rate increase odds. The Federal Reserve's decision on December 8 and 9 is the larger event. Investors should also note that fund flows tend to follow price momentum, so outflows can reverse quickly if sentiment improves. For now, six straight weeks of ether outflows and a negative year for bitcoin funds show that institutional appetite for crypto has cooled heading into year end.

Where Things Stand

Spot bitcoin funds lost USD 1.28 billion in the week to November 6, 2026, the worst week since June, with iShares Bitcoin Trust accounting for most of the exits, and selling continued on November 9. Rising odds of a December rate increase and weakness in risk assets drove the flows. Inflation data, the December Federal Reserve meeting and key price levels for bitcoin will shape the next move.