U.S. spot Bitcoin ETFs suffered a severe reversal during the week of November 2–6, 2026, posting $1.28 billion in net outflows and flipping their 2026 cumulative flows negative to -$914.1 million. Driven by heavy redemptions in BlackRock's IBIT alongside a post-midterm election market selloff, the slide extended across crypto investment products, with Ether ETFs losing $365.3 million across a six-week losing streak while Solana and Hyperliquid funds set record five-week outflow runs.
Weekly performance of U.S. spot Bitcoin ETFs
- ▪U.S. spot Bitcoin ETFs recorded $1.28 billion in net outflows for the week of November 2–6, 2026, marking their worst weekly performance since late June 2026
- ▪Total assets held across the 12 U.S. spot Bitcoin ETFs dropped to approximately $95.9 billion as of November 6, 2026, representing about 6.3% of Bitcoin's total market capitalization
- ▪U.S. spot Bitcoin ETFs saw net outflows on four of five trading sessions during the week of November 2–6, 2026, with Wednesday's $74.6 million inflow being the only positive day
- ▪On November 6, 2026, U.S. spot Bitcoin ETFs recorded approximately $412 million in daily net outflows, following $430 million in net outflows on November 5, 2026
- ▪The $1.28 billion weekly outflow erased 2026 gains for U.S. spot Bitcoin ETFs, pushing cumulative year-to-date net flows into negative territory at approximately $914.1 million in net outflows by November 6, 2026
Flows in individual spot Bitcoin ETFs
- ▪During the week of Nov. 2–6, 2026, Grayscale's GBTC recorded $61 million in net outflows, Ark & 21Shares' ARKB shed $19.1 million, and Bitwise's BITB gained $16.6 million
- ▪Fidelity's FBTC fund bucked the market trend on November 6, 2026, attracting $42.8 million in net inflows to finish the week of Nov. 2–6, 2026 with $93.1 million in net subscriptions
- ▪BlackRock's IBIT fund led November 6, 2026 Bitcoin ETF redemptions with $403 million in net outflows, bringing its total weekly net withdrawals to $1.21 billion for Nov. 2–6, 2026
Ryan Kirkley on ETF market flows
- ▪Global Settlement Network CEO Ryan Kirkley stated that institutional allocation decisions in November 2026 continued to depend on liquidity, monetary policy, portfolio choices, and unresolved U.S. regulatory rules around custody, payments, and settlement
- ▪Global Settlement Network co-founder Ryan Kirkley cautioned against treating Wednesday, November 4, 2026, as proof that ETF selling had ended, noting investors were adjusting exposure unevenly across funds
Midterm election impact on crypto
- ▪Analysts stated that the blue wave in Texas following the November 3, 2026 U.S. midterm elections could result in slowed development across the state's bitcoin mining facilities and data centers
- ▪Cryptocurrency and equities markets experienced a selloff following the November 3, 2026 U.S. midterm elections, with analysts attributing Bitcoin's 5.6% decline on November 5 to the Democratic sweep of Congress and doubts over artificial intelligence spending
Weekly outflows from spot Ether ETFs
- ▪BlackRock's ETHA led Ether ETF withdrawals on November 6, 2026 with $90.8 million in net outflows, bringing its weekly total net withdrawals to $345.9 million
- ▪Spot Ether ETFs recorded $365.3 million in net outflows during the week of Nov. 2–6, 2026, extending their weekly net outflow run to six consecutive weeks and totaling $2.02 billion in losses since late September 2026
Outflows from Solana and Hyperliquid ETFs
- ▪Spot Solana ETFs shed $26.3 million during the week of Nov. 2–6, 2026, marking a fifth consecutive week of net outflows that brought five-week total losses to $165.4 million
- ▪The three publicly traded Hyperliquid ETFs lost $15.6 million during the week of Nov. 2–6, 2026, extending their outflow streak to five weeks and reducing total net assets by 17% to $374.1 million
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