Bitcoin and Ether ETFs drain $1.65B in a week as BlackRock's IBIT bleeds daily

The bleeding kept going right to the bell. U.S. spot Bitcoin ETFs gave back $411.9 million on Friday alone, while Ether funds lost another $93.3 million, per Farside Investors data. That marked a second straight negative session for both camps — and pushed the week's combined damage to roughly $1.65 billion.

BlackRock did the heavy lifting on the way out. Its IBIT accounted for $403 million of Friday's Bitcoin withdrawals and finished the five-day stretch down $1.21 billion, with Monday's $405.3 million exit as its worst single day. Bitwise's BITB shed $20.5 million Friday, ARK 21Shares' ARKB lost $20.1 million and Grayscale's GBTC bled $11.1 million.

Fidelity went the other way. FBTC pulled in $42.8 million Friday and closed the week with $93.1 million in net subscriptions, buoyed by a $236.7 million haul on Wednesday that outweighed a $199.9 million pullout the next day. Wednesday was the only green session for the group — Bitcoin funds took in $74.6 million and Ether products added $53 million.

On the Ether side, BlackRock's ETHA led Friday's retreat with $90.8 million in outflows and ended the week down $345.9 million. Its sibling product ETHB lost $47.9 million, while Fidelity's FETH was a rare gainer with $15.3 million in net inflows. The category had already dropped $431.4 million the week before, and crypto.news reported October withdrawals hit $1.61 billion.

The whiplash has market watchers wary of calling a bottom. Global Settlement Network CEO Ryan Kirkley cautioned against reading one positive session as the end of selling, pointing to liquidity, monetary policy and unresolved U.S. rules on custody, payments and settlement as the forces shaping institutional allocations, according to crypto.news. AMINA Bank's Andreja Cobeljic, writing Nov. 6, said he's watching renewed Ether ETF buying as a gauge of whether institutional demand can fuel gains into 2027 — "Simply put, ETH flows," he said.

Cumulative totals still lean heavily positive despite the rout: Farside puts Bitcoin ETFs at about $55.77 billion in net inflows and Ether funds at $11.95 billion through Nov. 6. Bitcoin's weekly withdrawals were more than six times the $202.4 million logged during Oct. 26–30.