Bitcoin ETFs shed $1.28 billion, erasing 2026 inflows

By Tom Whitfield

U.S. spot bitcoin ETFs recorded $1.28 billion in net outflows last week, their worst weekly result since late June, according to The Block’s analysis of SoSoValue data. The 12 U.S.-listed funds closed Friday with $914.1 million in net outflows for 2026, erasing earlier gains and extending their losing run to two consecutive weeks.

The $1.28 billion withdrawal ranked seventh among the largest weekly outflows since the products launched in January 2024. The most recent worse week ended June 26, when the funds shed $1.79 billion in what The Block reported at the time was their second-worst week on record.

What drove the $1.28 billion withdrawal?

Redemptions exceeded subscriptions on four of five trading days:

• Monday: $398.6 million net outflow.
• Tuesday: $115.6 million net outflow.
• Wednesday: $74.6 million net inflow.
• Thursday: $430.2 million net outflow.
• Friday: $411.9 million net outflow.

Wednesday’s inflow was the only positive session. The previous week’s $202.6 million outflow included a $643.3 million Friday exit. The Block described that session as the largest single-day retreat in four months after the record Binance hack.

Which funds absorbed the withdrawals?

BlackRock’s IBIT lost $403 million on Friday, accounting for about 88% of the day’s gross outflows. Bitwise’s BITB and Ark & 21Shares’ ARKB each lost roughly $20 million, while Grayscale’s GBTC shed $11.1 million.

Fidelity’s FBTC bucked the Friday trend, taking in $42.8 million. It had led Thursday’s outflows with a $199.9 million decline, according to The Block.

How did bitcoin ETFs turn negative for 2026?

The funds entered the week with about $368 million in net inflows for 2026, having turned positive for the year in late September. Monday’s redemptions pushed that balance below zero; by Friday’s close, year-to-date net outflows stood at $914.1 million.

Bitcoin held across the 12 funds fell 2.3% to $95.9 billion, equal to about 6.3% of the cryptocurrency’s market capitalization. IBIT held $60.3 billion in net assets against $65.1 billion in cumulative inflows.

What followed Tuesday’s midterm elections?

A crypto and equities selloff followed Tuesday’s midterm elections, The Block reported Friday. Bitcoin fell 5.6% on Thursday, and analysts linked the decline to the Democratic sweep of Congress and doubts over AI spending.

Analysts also said a Texas “blue wave” could slow development in a state that hosts bitcoin mining facilities and data centers.

What happened in ether ETFs?

Spot ether ETFs lost $365.3 million last week, their sixth consecutive negative week, according to SoSoValue. The run has removed about $2.02 billion since late September. Ether funds previously posted two eight-week losing streaks, most recently matching that record in early July.

Wednesday’s $53 million inflow was the only positive session. Monday’s $139.8 million outflow was the largest, followed by $100 million on Thursday and $93.2 million on Friday.

BlackRock’s ETHA accounted for $90.8 million of Friday’s losses, about 96% of gross outflows. Ether ETFs ended 2026 down about $405.6 million, with net assets down 2.9% for the week to $12.84 billion against $11.92 billion in cumulative net inflows.

What happened in Solana and Hyperliquid ETFs?

Spot Solana ETFs lost $26.3 million last week, nearly all on Friday, extending their outflow streak to five weeks. That is the longest run since the funds launched in October 2025, and the five-week total reached $165.4 million. The streak began immediately after a record 14-week inflow run.

Bitwise’s BSOL led Friday’s Solana outflows with $14.4 million, followed by Grayscale’s GSOL at $5.4 million. The funds held $1.31 billion in net assets on Friday, down from $1.40 billion a week earlier, but remained about $676.2 million positive for 2026.

Three publicly traded Hyperliquid ETFs shed $15.6 million, extending their outflow streak to five weeks and matching their longest run since trading began in May. Their five-week losses totaled $58.4 million, while net assets fell about 17% to $374.1 million. Friday’s $8 million outflow was led by Bitwise’s BHYP.

Saturday morning, The Block’s price pages showed bitcoin near $75,880, ether around $2,244, SOL at $89.84 and HYPE at $77.79.

The next weekly SoSoValue reading is the near-term test: positive flows in each category would stop bitcoin’s two-week slide and the longer ether, Solana and Hyperliquid streaks, while continued redemptions would extend the market-structure shift from ETF subscriptions to fund withdrawals.