Crypto ETFs Lose $1.53B as Bitcoin Leads Weekly Withdrawals

Crypto ETFs see heavy withdrawals amid market pullback

US-listed cryptocurrency exchange-traded funds experienced combined net outflows totaling approximately $1.5314 billion during the trading week of Nov. 9–13. Bitcoin-focused ETFs accounted for the majority of the withdrawals, with Ethereum, Solana, Zcash and Hyperliquid products also registering net redemptions. Data compiled by Farside Investors show all five tracked ETF groups finished the week in the red, driven largely by a selloff in the underlying spot crypto markets.

Key weekly figures

Topline numbers

• Combined net outflows across tracked crypto ETF groups: $1.5314 billion
• Bitcoin ETFs: $1.065 billion in outflows
• Ethereum ETFs: $398.9 million net withdrawals
• Solana ETFs: $32 million outflows
• Zcash ETF (ZCSH): $30.8 million outflows
• Hyperliquid ETFs: $4.4 million outflows

These weekly losses were slightly lower than the prior week, which saw $1.7006 billion in withdrawals across the same fund groups. Across all five asset groups, net withdrawals were down roughly 9.9% week-over-week, a decline of $169.2 million. Bitcoin and Ethereum together comprised about 95.6% of the total outflows, with Bitcoin alone representing nearly 70%.

Bitcoin ETF flows: Seven days of outflows

Bitcoin ETFs posted daily net outflows across all five trading sessions, extending their streak of negative sessions to seven. Total weekly withdrawals for Bitcoin funds reached $1.065 billion, down about 16.9% from the prior week's $1.282 billion.

Daily Bitcoin ETF outflows were:

• Monday: $201 million
• Tuesday: $95 million
• Wednesday: $299.8 million (largest daily outflow)
• Thursday: $284.1 million
• Friday: $185.4 million

Among providers, BlackRock's IBIT led withdrawals, losing $908.4 million across the week. Fidelity's FBTC recorded $111.3 million of redemptions, while Morgan Stanley's MSBT bucked the trend with $54.4 million of inflows over the first four days and no net flow on Friday.

Over the first two November trading weeks, Bitcoin ETFs have lost $2.347 billion in aggregate net flows. Despite the recent outflows, Farside Investors' cumulative net-flow total for Bitcoin ETFs remained positive at roughly $54.7 billion through Nov. 13.

Ethereum ETFs: Small Friday recovery after heavy selling

Ethereum ETFs posted a weekly loss of $398.9 million, but the group returned to positive territory on Friday with $2.3 million in net inflows, snapping a six-session run of redemptions. Fidelity's FETH attracted $11.6 million on Friday, which offset $9.3 million leaving Grayscale's ETH fund that same day.

Earlier in the week, Ethereum ETFs recorded consecutive outflows:

• Monday: $184.6 million
• Tuesday: $1.3 million
• Wednesday: $144.8 million
• Thursday: $70.5 million

BlackRock's ETHA accounted for $311.1 million of weekly withdrawals. Other notable moves included FETH shedding $12.1 million over the full week despite Friday buying, BlackRock's ETHB down $25 million, and Grayscale's ETH fund seeing about $43 million in net redemptions.

Solana and Zcash: Smaller funds, meaningful outflows

Solana ETFs

Solana-focused ETFs recorded $32 million in net outflows during the week, up from $25 million the previous week. All five trading days finished negative for Solana funds, though daily outflows eased after Tuesday's $13.4 million peak.

Fund-level breakdown for Solana:

• Bitwise BSOL: $12.4 million outflows (including a mix of withdrawals and one positive session)
• FSOL: $11.3 million outflows
• TSOL: $2.8 million outflows
• GSOL: $2.4 million outflows
• MSOL: $2.1 million outflows
• VSOL and SOEZ: smaller outflows of $0.3 million and $0.7 million respectively

No Solana ETF finished the week with a net inflow.

Zcash ETF and Hyperliquid

Zcash's single tracked fund, ZCSH, saw $30.8 million in withdrawals for the week. The largest single-day redemption occurred Wednesday with $14.6 million, followed by $9.9 million on Thursday and $4.1 million on Friday. Across the first 10 trading sessions of November, ZCSH has recorded $43.8 million in net outflows.

Hyperliquid ETFs posted relatively modest net redemptions of $4.4 million. Activity was concentrated in two funds: THYP lost $5.2 million, while BHYP drew $0.8 million in inflows. HYPG showed no net movement across the week. The Hyperliquid group recorded zero net flows on Tuesday, Thursday and Friday, after losing $15.7 million the previous week.

Market context and causes

The ETF outflows coincided with weakness across the underlying cryptocurrencies. During the same market selloff, Bitcoin slipped below $69,000 on Nov. 13, and Ether fell under $2,000. Those price moves likely pressured investor sentiment toward passive crypto products, prompting redemptions in spot ETF wrappers.

Institutional and retail ETF flows remain an important barometer for demand in digital-asset markets. While this particular week showed material withdrawals, the broader multi-month trend and liquidity in spot Bitcoin and Ethereum ETFs still reflect substantial long-term allocations by large investors.

Outlook: What to watch

Traders and asset allocators will monitor several signals in the coming weeks:

• Price action for Bitcoin and Ethereum—continued declines could trigger further ETF outflows.
• Fund-level flows for major issuers including BlackRock, Fidelity and Grayscale to see whether big-name products stabilize or continue to shed assets.
• Macro and regulatory news that might influence risk appetite for crypto ETFs.

Given the concentration of outflows in Bitcoin and Ethereum ETFs, any stabilization in BTC and ETH prices could help slow redemptions and encourage renewed inflows across the crypto ETF landscape. For now, the Nov. 9–13 data from Farside Investors underline the sensitivity of ETF flows to short-term volatility in the underlying spot markets.