Bitcoin ETFs Just Had One of Their Worst Weeks on Record, Bleeding $1.2 Billion

Spot Bitcoin exchange-traded funds shed nearly $1.2 billion in assets for the week, the third-highest total in the funds’ 22-month history, despite regaining ground on Friday.

November outflows from the 11 funds, which reached a monthly record $3.79 billion on Thursday, hovered at roughly the same total as the previous all-time high—set this February—after Friday’s rally, according to data from U.K. asset manager Farside Investors. On Thursday, the ETFs recorded their second highest daily outflows, more than $900 million.

The recent outflows, a rare misstep for the dramatically successful products, have dovetailed with a six-week slump in Bitcoin’s price. The largest cryptocurrency by market capitalization plunged to $81,000 early Friday, its lowest mark since early April.

Bitcoin is down about 33% since hitting an all-time high above $126,000 in early October, stung by macroeconomic unrest, including most recently, the decreasing prospects of the U.S. central bank approving a third 2025 interest rate cut, and concerns about an overheated artificial intelligence market.

BlackRock’s iShares Bitcoin Trust (IBIT) led this week’s hemorrhaging more than $1 billion in outflows, while redemptions from the Grayscale Bitcoin Trust (GBTC) and Fidelity Wise Origin Bitcoin Fund (FBTC) totaled about $172 million and $116 million, respectively.

On Friday, FBTC added $108 million in investments, the best in the category, while the Grayscale Bitcoin Mini Trust ETF (BTC) and GBTC generated $61.5 million and $84.9 million in assets.

The recent outflows have come as a flurry of Solana, XRP and dogecoin-bets-2x-leveraged-etf" target="_blank" class="sc-adb616fe-0 bJsyml" rel="nofollow">Dogecoin ETFs have started trading over the past month, with additional XRP and Dogecoin products to list next week. The Canary Capital XRP ETF (XRPC) generated $58 million in daily net investments, the most among opening-day totals for all ETFs in 2025, topping the Bitwise Solana Staking ETF’s (BSOL) $57 million in its debut, according to Bloomberg data.

BSOL has accumulated more than $660 million in assets in its three-week history, and has yet to record a single day of outflows. The success of these funds has reflected investors’ strong appetite for digital asset-based investment products. The U.S. Securities and Exchange Commission is currently weighing dozens of applications for funds tracking individual altcoins, combinations of tokens, and crypto strategies.

In a Friday X post, Bloomberg Senior ETF Analyst Eric Balchunas optimistically noted Bitcoin’s historical resilience.

“I get the haters dunking on BTC’s slide (enjoy, this is your time), but what I don’t get is the obituaries being written,” Balchunas wrote. “This asset has survived like half a dozen drawdowns worse than this only to hit [all-time highs] every time. The only other things with that ‘Rocky’-esque record are stud stocks like Apple, Amazon, and Florida real estate.”

He quipped in a separate tweet: “This asset should [definitely] be treated as HOT SAUCE.”