TheBlock
U.S. spot bitcoin ETFs shed $1.28 billion last week, their worst stretch since late June and the seventh-largest weekly outflow since the funds launched in January 2024. Outflows hit every day except Wednesday's modest $74.6 million inflow, with $430.2 million leaving Thursday and $411.9 million Friday. The two-week slide pushed the funds to $914.1 million in net outflows year to date, erasing a $368 million surplus, and cut the total value of bitcoin held across the 12 funds 2.3% to $95.9 billion.
Why it matters
The reversal is sharp: these funds had turned positive for 2026 in late September, and now the year is in the red. The trigger looks political and macro rather than crypto-specific. Bitcoin dropped 5.6% on Thursday alone after the Democratic midterm sweep, with analysts flagging Texas in particular, where the result could slow development in a state dense with bitcoin mining facilities and data centers. BlackRock's IBIT drove about 88% of Friday's gross outflows, a sign the exits are concentrated in the largest institutional vehicles rather than spread thin.
Market impact
Bitcoin traded near $75,880 on Saturday morning. Ether funds fared worse, extending their losing run to six weeks with $365.3 million out, roughly $2.02 billion drained since late September and $405.6 million negative for 2026; BlackRock's ETHA accounted for 96% of Friday's losses. Spot Solana ETFs posted a fifth straight weekly loss at $26.3 million, their longest streak since launching in October 2025, while the three Hyperliquid ETFs matched five red weeks and saw net assets drop 17% to $374.1 million. Watch Monday's flow print: a third consecutive negative week would confirm the post-election de-risking has legs.
Frequently asked questions
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Why did bitcoin ETF outflows spike last week?
The outflows came amid a crypto and equities selloff after the midterm elections. Bitcoin fell 5.6% on Thursday alone as analysts linked the slide to the Democratic sweep of Congress and doubts over AI spending.
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Are bitcoin ETFs negative for the year now?
Yes. The funds entered the week with about $368 million in 2026 net inflows, but the $1.28 billion weekly outflow pushed them to roughly $914.1 million in net outflows year to date.
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What was the worst week on record for spot bitcoin ETFs?
The week ended June 26 remains the worst, when the funds shed $1.79 billion, their second-worst week on record. Last week's $1.28 billion loss ranks seventh-largest since the January 2024 launch.
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How long have ether ETFs been posting outflows?
Six straight weeks, draining about $2.02 billion since late September. Ether ETFs have twice posted eight-week losing streaks, most recently in early July.
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How much bitcoin do spot ETFs hold after the selloff?
The total value of bitcoin held across the 12 funds fell 2.3% to $95.9 billion, equal to about 6.3% of bitcoin's market capitalization. IBIT alone holds $60.3 billion in net assets.
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