Spot Bitcoin ETFs Weekly Report: $1.28B in Outflows (November 2–6, 2026)

U.S. spot Bitcoin ETFs recorded approximately $1.28 billion in net outflows between November 2 and November 6, extending the recent run of withdrawals.

Four of the five trading sessions ended with net outflows. Wednesday was the only exception, as the funds attracted $74.6 million.

At the fund level, BlackRock’s IBIT accounted for most of the week’s withdrawals. Fidelity’s FBTC recorded the largest net inflow, but this was not enough to offset the broader selling across the funds.

Week-on-Week Comparison of ETF Outflows

Compared with the $202.4 million in net outflows recorded between October 26 and October 30, the $1.28 billion withdrawn between November 2 and November 6 represents an increase of approximately $1.08 billion. Weekly withdrawals were more than four times higher than the previous week’s level.

The increase is also evident in Bitcoin terms. Net outflows rose from 2,758 BTC to 16,407 BTC, a difference of 13,649 BTC.

Measured against newly mined Bitcoin, the previous week’s withdrawals were equivalent to approximately 6.1 days of new supply. Last week’s outflows represented about 36.5 days, based on an estimated daily issuance of 450 BTC.

IBIT Accounted for Most of the Weekly Outflows

BlackRock’s IBIT recorded approximately $1.21 billion in net outflows, making it the largest contributor to the week’s negative result.

Grayscale’s GBTC followed with $61 million in withdrawals, while its Bitcoin Mini Trust recorded approximately $52.6 million in outflows.

Other funds also ended the week lower:

• EZBC recorded $32.9 million in outflows.
• HODL recorded $23.6 million in outflows.
• ARKB recorded $19.1 million in outflows.

On the other side, FBTC recorded approximately $93.1 million in net inflows, the largest positive result among the funds. BITB added $16.6 million, while BTCO and MSBT recorded smaller inflows of $4 million and $3.3 million, respectively.

However, these inflows were not enough to offset the withdrawals across the other funds, particularly the large outflow from IBIT.

Four Sessions Ended in Outflows

ETF activity remained negative for most of the week, with Thursday and Friday recording the largest withdrawals.

The daily breakdown was:

• Monday, November 2: $398.6 million in net outflows.
• Tuesday, November 3: $115.6 million in net outflows.
• Wednesday, November 4: $74.6 million in net inflows.
• Thursday, November 5: $430.2 million in net outflows.
• Friday, November 6: $411.9 million in net outflows.

Thursday recorded the largest daily withdrawal, followed closely by Friday.

Wednesday’s positive result briefly interrupted the outflow trend, but the following two sessions erased that improvement.

ETF Outflows Compared With New Bitcoin Supply

The approximately 16,407 BTC in net outflows recorded last week was equivalent to about 36.5 days of newly mined Bitcoin, based on estimated daily issuance of 450 BTC.

During the same seven-day period, miners produced approximately 3,150 BTC. This means the volume represented by ETF net outflows was about 5.2 times the amount of Bitcoin newly mined over the week.

This comparison puts the scale of ETF withdrawals into perspective against new Bitcoin supply. It is important to note that ETF net outflows do not mean the funds directly released all the Bitcoin represented by these figures.

Bitcoin’s Price Movement Alongside ETF Flows

Bitcoin opened Monday, November 2, at approximately $78,241 and closed Friday, November 6, at $75,747.

The five trading sessions saw different price movements alongside changes in ETF activity.

On Monday, ETFs recorded $398.6 million in net outflows as Bitcoin fell 2.0% from its opening price. Tuesday brought another $115.6 million in withdrawals, but Bitcoin gained approximately 0.9%.

Wednesday was the only session with positive ETF flows. The funds attracted $74.6 million while Bitcoin rose approximately 4.0%, closing at $80,434.

The direction changed sharply on Thursday. ETFs recorded their largest daily outflow of $430.2 million, while Bitcoin fell approximately 5.5%. On Friday, another $411.9 million left the funds as Bitcoin declined by a smaller 0.3%.

Overall, four of the five trading sessions recorded ETF outflows, while Bitcoin ended the week lower. However, Tuesday’s price increase despite outflows and Wednesday’s gains alongside inflows show that daily ETF flows do not always move in the same direction as Bitcoin’s price.

ETF activity provides useful information about demand through these funds, but it is only one of several factors that influence Bitcoin’s price.

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