US spot bitcoin exchange-traded funds (ETFs) recorded a second consecutive week of significant net outflows, with $1.065 billion withdrawn during the week ending November 13, according to data reported by The Block. The steady string of withdrawals comes amid a broader decline across the cryptocurrency market, impacting a wide range of digital asset ETFs tracked by industry platforms.
Major outflows, Avalanche funds stand out
Farside Investors documented outflows from bitcoin ETFs on all five US trading sessions between November 9 and 13. The outflow on November 13 alone totalled $185.4 million. Over the last two weeks, roughly $2.35 billion has left bitcoin ETFs, with the most recent streak described as the longest since a ten-session stretch last summer.
Analysts highlighted that Avalanche was the only one of 15 tracked US spot crypto ETF categories to record net inflows last week, bringing in $227,000. This compares to widespread outflows experienced by other crypto funds, including those focused on Bitcoin, Ether, and Solana.
Of the 15 spot crypto ETF categories tracked, Avalanche funds stood alone with a net inflow of $227,000 during a week otherwise marked by heavy withdrawals across the digital asset space, according to SoSoValue data.
Other ETF categories saw net losses, with Ether funds losing $398.9 million and Solana-focused ETFs down $32.1 million. Hyperliquid ETFs also experienced a $4.3 million outflow during the observed period.
Mini dictionary: SoSoValue is a data analytics platform that tracks flows, performance, and activity of digital asset funds and ETFs across global markets.
Timeline and drivers of recent flows
The streak of net outflows began on November 5. Earlier in the week ending November 7, bitcoin ETFs lost $1.28 billion, their worst result since June. At that stage, total ETF flows for 2026 were negative by $914.1 million.
On November 13, BlackRock’s IBIT recorded an outflow of $143.5 million and Fidelity’s FBTC saw $41.9 million leave, while the remaining ten bitcoin ETF funds had flat flows for the day, according to SoSoValue. Cumulatively, bitcoin and ether ETFs captured the majority of the redemptions during the recent two-week span, deepening overall outflows in the sector.
Price reactions and sentiment shifts
As fund withdrawals accelerated, crypto prices registered sharp declines. Bitcoin traded at $64,522 as of 21:13 UTC on November 14, representing a 5.9% drop in 24 hours and a 14.37% decline over seven days. Ether changed hands at $1,776.15, down 8.36% on the day and 19.91% for the week, according to CoinGecko market data.
| Asset | Price, November 14 (21:13 UTC) | 24h Change | 7d Change |
|---|---|---|---|
| Bitcoin (BTC) | $64,522 | -5.9% | -14.37% |
| Ether (ETH) | $1,776.15 | -8.36% | -19.91% |
Bitcoin briefly fell below $69,000 early on November 13, touching its lowest level since August 20. The Block reported that traders weighed several market factors, including speculation over potential Federal Reserve interest rate increases and broader concerns surrounding tech sector leadership changes. However, no official explanation for the ETF redemptions has been published.
Market sentiment remained deeply negative throughout the week, with the Crypto Fear & Greed Index registering a value of 13—classified as “Extreme Fear”—according to Alternative.me on November 14.
The index offers a gauge of the prevailing outlook among market participants, but does not predict future market direction. Analysts noted that while net outflows, sharp declines in spot prices, and weak sentiment occurred simultaneously, there is no direct evidence that ETF redemptions alone caused the price drop.
Industry outlook
Moving forward, attention is focused on whether net outflows persist in upcoming weekly reports or if inflows reemerge. Continued withdrawals would reinforce the prevailing pattern, while the first signs of sustained inflows could shift the flow data but would not guarantee a corresponding price recovery. In particular, whether categories like Ether and Avalanche will see further gains or remain under pressure is closely watched by market analysts.
For now, the data confirm two consecutive weeks of billion-dollar net outflows from US bitcoin ETFs amid volatile digital asset prices, with only isolated categories managing modest gains.
