US spot Bitcoin ETF products lost $1.28 billion during the November 2–6 trading week, while Ethereum funds recorded another $365.2 million in net withdrawals. BlackRock's IBIT accounted for the bulk of the Bitcoin losses, but Fidelity's competing fund ended the five-session period with net inflows.

According to Farside Investors, combined withdrawals from the two categories reached roughly $1.65 billion. The Bitcoin ETF market posted four losing sessions, with Wednesday the only day of net inflows. Friday alone brought $411.9 million in Bitcoin redemptions and $93.3 million in Ether withdrawals.

ETF shares enter and exit funds through primary-market creations and redemptions, so the daily flow totals published for these products serve as a session-by-session measure of investor demand for crypto exposure through ordinary brokerage accounts.

Why BlackRock's Bitcoin ETF Lost $1.21 Billion in One Week

BlackRock's iShares Bitcoin Trust (IBIT) recorded losses of $1.21 billion during the week. The fund saw the largest withdrawals in its history on Monday and Friday, with $405.3 million and $403 million leaving the product, respectively. IBIT posted outflows on every trading day of the period.

As the largest US spot Bitcoin ETF by assets under management, IBIT is the category's biggest single component, which means its daily totals carry outsized weight in the weekly figure.

Notably, the fund lost $201.2 million on Wednesday even as the broader Bitcoin ETF category recorded net inflows that day. The figures make clear that redemptions were not spread evenly across products: Fidelity's FBTC took in money on the same day.

Several other funds also drew subscriptions on Wednesday. ARKB added $19.9 million, while Bitwise's fund and Invesco's BTCO took in $15.2 million and $4 million, respectively — enough to counterbalance IBIT's withdrawals and push the daily category total positive.

Data for November 6 showed an outflow of $20.5 million from Bitwise's BITB and an outflow of $20.1 million from ARK 21Shares' ARKB. Grayscale's GBTC lost $11.1 million that day.

How Fidelity Resisted the Bitcoin ETF Selling

Fidelity's FBTC recorded net weekly flows of $93.1 million. Its largest single-day inflow came on Wednesday, at $236.7 million, though that was largely offset by a $199.9 million outflow on Thursday.

Bitwise attracted net inflows of $16.6 million for the week. ARKB recorded a weekly outflow of $19.1 million, GBTC had outflows totaling $61 million, and Grayscale's Bitcoin Mini Trust shed $52.6 million.

Where Ethereum ETF Flows Stood

US spot Ether funds saw $365.2 million in net outflows during November 2–6. The largest outflow in the category came from BlackRock's ETHA, which lost $345.9 million, while its sister product ETHB recorded a $47.9 million loss over the period.

Fidelity's FETH bucked the trend with gains of $15.3 million. Its $19.2 million inflow on Wednesday helped offset smaller outflows in the days that followed. On Friday, BlackRock's ETHB gained $1.1 million while ETHA saw an outflow of $90.8 million.

Outflows on the final session were relatively modest: FETH lost $1.7 million and Grayscale's Ethereum Mini Trust lost $1.9 million on the day. No other tracked fund registered inflows large enough to influence the category's daily net outflow.

Per Farside Investors data, Monday and Tuesday outflows for US spot Ether funds were $139.7 million and $85.3 million, respectively. A $53 million inflow followed on Wednesday, before further outflows of $99.9 million on Thursday and $93.3 million on Friday.

When the Midweek Bitcoin ETF Recovery Faded

Total Bitcoin ETF inflows reached $74.6 million on Wednesday, breaking two consecutive negative sessions. The reprieve proved temporary, as Thursday and Friday brought net outflows of $430.2 million and $411.9 million, respectively, with the two days combined accounting for close to $1.04 billion in redemptions.

The weekly Bitcoin outflow compares with $202.4 million recorded for the October 26–30 period, making the latest figure more than six times higher than the previous week. Ether fund outflows, by contrast, declined from $431.4 million to $365.2 million week over week, meaning Bitcoin ETFs saw the larger negative shift in weekly flows.

Spot Bitcoin ETFs began trading in the United States in January 2024, with spot Ether funds following that July. Since their launch, US spot Bitcoin ETFs have accumulated $55.77 billion in cumulative net inflows, while Ether funds stood at around $11.95 billion, according to Farside. The firm's trackers update after each US trading session, and the next series of daily prints will extend the cumulative record for both categories.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always do your own research. This is not financial advice.