US Bitcoin ETFs Have Swung From a $1 Billion Gain to a $1.56 Billion Net Outflow for 2026 in Two Weeks
Spot bitcoin funds were up about $1 billion for the year on 29 October. Two weeks of withdrawals, led by BlackRock's IBIT, have wiped that out as bitcoin sits near its 200-week average around $68,000.
Saturday, November 14, 2026/2 min read
Two weeks ago the US spot bitcoin funds were still having a good year. On 29 October they were up about $1.01 billion in net inflows for 2026. By Thursday night they were down $1.56 billion, according to SoSoValue data analysed by CoinDesk, a swing of roughly $2.6 billion in a fortnight.
The turn began on 30 October, when the funds shed $643.3 million in a single day. They have been leaking ever since, and on Friday, as bitcoin fell below $70,000 for the first time since August, the withdrawals continued.
How much have bitcoin ETFs lost in outflows?
CoinDesk reported that the funds lost $643.6 million in the week to Thursday and $1.28 billion the week before, after $202.6 million the week before that. It was the 12th week of 2026 with outflows above $500 million, against 15 such weeks in all of 2025 and four in 2024. The funds took in $21.37 billion in 2025 and $35.24 billion in 2024.
On Friday the pattern held. Cointelegraph, citing Farside Investors, put the day's net outflow at $185.4 million, with BlackRock's IBIT losing $143.5 million and Fidelity's FBTC $41.9 million. That made seven straight sessions of net withdrawals, about $1.71 billion since 5 November, and an 11th straight session of outflows for IBIT, which began on 30 October.
Why is bitcoin falling now?
The answer is a mix of rates, the dollar and liquidity. The dollar index rose above 103 on Friday, its highest since April 2025, and traders priced an 88 percent chance of a quarter-point Fed rate rise in December, CoinDesk's price report said. Higher yields make a non-yielding asset harder to hold, and the funds' selling has coincided with the drop. Our earlier report covers the move below $70,000 and the $1.6 billion of liquidated leverage.
There is a supply side too. Analytics Insight, citing Glassnode, said stablecoin supply contracted by $14.2 billion over the 30 days to 9 November, the fastest fall since June 2022, which Glassnode said leaves less capital available for a rally. Bitcoin traded near $68,600 on Friday, close to its 200-week moving average at about $68,000, with Glassnode placing earlier buyers' cost between $62,000 and $66,000 below that.
What would end the outflows?
Nobody can say yet. US funds do not trade at the weekend, so the next flow figures arrive after Monday's session, and by Friday's close nothing in the data showed the selling easing. Friday's $185.4 million was smaller than Wednesday's $299.8 million, but it was still an outflow.
The thing to watch is whether IBIT's streak breaks. It led the withdrawals, so a quiet session there would be the first sign the selling has run its course. Until then, the year-to-date total will keep moving in the wrong direction, and the $68,000 area will stay the level that traders are watching.
Published in The Outspoken Digest
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