Bitcoin ETF investors are still heading for the exits, and the price slide is speeding up.
U.S. spot Bitcoin ETFs shed $185.4 million on Friday, according to Decrypt’s ETF tracker, extending their outflow streak to seven straight trading days.
The funds lost about $829 million this week after shedding nearly $1.3 billion the week before, bringing November’s outflows to roughly $2.1 billion.
The selling so far this month has been relentless. The funds bled $1.4 billion over five sessions earlier in the streak as investors cut risk. Cumulative net inflows since launch have slipped to $55.3 billion, and total net assets fell to $94.9 billion, below the $100 billion mark they held through much of October.
Other crypto funds haven’t escaped the rout. Ethereum ETFs took in a modest $2.3 million on Friday, snapping a six-day outflow streak, but still lost about $336 million on the week and roughly $702 million so far in November. Solana ETFs shed about $28 million this week, though they retain $1.6 billion in cumulative net inflows.
Spot crypto ETFs hold the underlying asset, such as Bitcoin or Ethereum, and trade on stock exchanges like ordinary shares, giving investors exposure through a regular brokerage account. Bitcoin funds have drawn $55.3 billion in net inflows since debuting in January 2024. Because issuers report flows daily and much of the money comes from institutions and financial advisers, the figures have become a closely watched gauge of investor sentiment.
The outflows have tracked a sharp sell-off. Bitcoin traded near $64,500 over the weekend, down 6% over 24 hours and about 15% on the week, according to CoinGecko, and it has lost more than 22% over the past month.
Ethereum fell 8.4% to about $1,790, and Solana dropped 12% to roughly $70. Total crypto market value slid 4.5% to about $2.3 trillion.
Bitcoin hit a 12-week low this week as fears of further Federal Reserve rate hikes erased its summer rally, and concentrated liquidations pushed the price below $69,000 earlier in the week.
Not every institution is retreating. JPMorgan’s holdings of Bitcoin and crypto-linked securities are approaching $1 billion, according to its most recent SEC filing. However, those purchases predate the more recent market downturn.
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