Bitcoin ETFs lose $1.28B in a week, and BlackRock ate 95% of it

BlackRock's iShares Bitcoin Trust (IBIT) took the hit. The fund lost roughly $1.21 billion during the week, its sixth straight session of outflows running through Friday, according to SoSoValue data. That single fund accounted for about 95% of the industry's weekly net withdrawals. Friday was the ugliest day of all, with roughly $403 million walking out the door. Since Oct. 30, IBIT has shed about $1.44 billion.

The damage flipped the whole year. US spot Bitcoin ETFs have now bled about $919 million net in 2026, following a rough October. Not every fund got torched, though: Fidelity's Wise Origin Bitcoin Fund (FBTC) pulled in roughly $93 million in net inflows for the week, even after nearly $200 million left on Thursday alone.

Bitcoin itself slipped below $76,000 as the week's news piled up. The culprits, per the report: fallout from a reported $6.3 billion hack at Binance, uncertainty after the US midterm elections and weakness in tech stocks. Bitfire Research threw in two more: shifting expectations on Federal Reserve interest rates and doubts that Congress can pass the CLARITY Act before the end of 2026.

Bitfire Research isn't calling a floor yet. The firm says Bitcoin is in a price discovery phase toward a possible market bottom, and warned more downside could come if key support fails. It flagged $74,400 to $75,000 as the critical zone, noting a sustained break below that range could spark another round of selling.

Next up on the watchlist: US inflation figures, fresh Federal Reserve signals and whether ETF flows stabilize. That trio will tell investors whether institutional demand can bounce back after one of the year's roughest withdrawal stretches.

US spot Bitcoin exchange-traded funds recorded approximately $1.28 billion in net outflows during the week of Nov. 2–6, their largest weekly withdrawal since late June, according to coinpaper.com.