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US spot Bitcoin exchange-traded funds have recorded net outflows of $502 million in 2026, with $26.1 billion in withdrawals exceeding $25.6 billion in inflows, according to SoSoValue data through November 5.
The total assets held by these funds have declined to $96.65 billion, down from $113.29 billion at the end of 2025. This marks a period where the primary institutional buying channel for Bitcoin has failed to generate net demand for the asset.
Flow Dynamics and Price Action
Spot ETFs operate by purchasing real Bitcoin when investors deposit cash and selling Bitcoin when investors redeem their shares. This mechanism previously created steady buying pressure, with the funds attracting approximately $35.2 billion in 2024 and $21.4 billion in 2025, SoSoValue data shows.
Trading activity has remained high despite the negative net flows. Investors exchanged $3.89 billion in Bitcoin ETF shares on November 5 alone. However, the volume of money leaving the funds matched the volume arriving, resulting in a flat net position for the day.
Outflows accelerated in early November. The funds lost $869.8 million between November 2 and November 5, including a single-day outflow of $430.2 million on Thursday. Bitcoin retested the $75,000 level during this period as technology stocks declined, trading near $75,500 on Friday, per SoSoValue.
Ethereum ETFs and Institutional Interest
US spot Ethereum ETFs have also recorded negative net flows in 2026, totaling approximately $310 million. Assets in these funds fell from $17.95 billion to $13.04 billion over the same period. October was the worst month for Ethereum ETFs since their launch, with $1.61 billion in withdrawals.
On-chain analytics firm Glassnode counted 23 consecutive trading days of Ethereum ETF outflows as of October 31, a record for the asset class.
Not all Bitcoin ETFs have experienced outflows. Morgan Stanley’s Bitcoin ETF, MSBT, has drawn $783 million in net inflows, SoSoValue data shows. Citi Wealth pitched Bitcoin ETFs to clients this week despite the broader outflow trend.
Friday’s flows had not been published as of the writing time and could shift the yearly total. To finish 2026 with positive net flows, Bitcoin ETFs need more than $502 million in net inflows over the final eight weeks. If they fall short, it would be the first calendar year of net outflows since US spot Bitcoin ETFs launched in January 2024.
Frequently Asked Questions
What is the current net flow status for US spot Bitcoin ETFs in 2026?
US spot Bitcoin ETFs have recorded net outflows of $502 million in 2026, with $26.1 billion in outflows exceeding $25.6 billion in inflows according to SoSoValue data through November 5.
How many consecutive days of outflows have Ethereum ETFs recorded?
Glassnode counted 23 straight trading days of Ethereum ETF outflows as of October 31, which is a record for the asset class.
