U.S. spot bitcoin ETFs faced their worst week since late June, with $1.28 billion in net outflows, marking the seventh-largest weekly exit since their launch in January 2024. The funds saw outflows every day except Wednesday, with the largest losses occurring on Monday, Thursday, and Friday. BlackRock's IBIT led the declines, accounting for $403 million of Friday's outflows, while Fidelity's FBTC was the only major fund to see inflows on Friday.
The week's outflows turned bitcoin ETFs negative for 2026, with year-to-date net outflows of $914.1 million. The total value of bitcoin held across the 12 funds dropped 2.3% to $95.9 billion. Analysts attributed the selloff to a broader crypto and equities downturn following the midterm elections, particularly the Democratic sweep of Congress and concerns over AI spending.
Ether ETFs extended their losing streak to six weeks, with $365.3 million in outflows last week. The funds have now lost about $2.02 billion since late September. Solana and Hyperliquid ETFs also posted their longest outflow runs, with five consecutive weeks of net outflows. Bitcoin traded near $75,880 on Saturday morning, while ether changed hands around $2,244.