Key facts
- U.S. spot Bitcoin ETFs had $55.3 billion in cumulative net inflows since launching in January 2024.
- Total net assets of U.S. spot Bitcoin ETFs fell to $94.9 billion, below $100 billion held through much of October.
- Ethereum ETFs lost about $702 million so far in November and about $336 million on the week.
- Solana ETFs shed about $28 million this week but retain $1.6 billion in cumulative net inflows.
- Ethereum fell 8.4% to about $1,790 and Solana dropped 12% to roughly $70, per CoinGecko.
- Total crypto market value slid 4.5% to about $2.3 trillion.
U.S. spot Bitcoin exchange-traded funds shed $185.4 million on Friday, extending their outflow streak to seven straight trading days, according to Decrypt's ETF tracker. The funds lost about $829 million over the week after shedding nearly $1.3 billion the week before, bringing November's outflows to roughly $2.1 billion.
Cumulative net inflows since the funds launched in January 2024 slipped to $55.3 billion, and total net assets fell to $94.9 billion, below the $100 billion mark they held through much of October. The funds bled $1.4 billion over five sessions earlier in the streak, the report said.
Other crypto funds also saw outflows. Ethereum ETFs took in a modest $2.3 million on Friday, snapping a six-day outflow streak, but still lost about $336 million on the week and roughly $702 million so far in November. Solana ETFs shed about $28 million this week and retain $1.6 billion in cumulative net inflows.
Bitcoin traded near $64,500 over the weekend, down 6% over 24 hours and about 15% on the week, according to CoinGecko, and it has lost more than 22% over the past month. The token hit a 12-week low this week as fears of further Federal Reserve rate hikes erased its summer rally, and concentrated liquidations pushed the price below $69,000 earlier in the week. Ethereum fell 8.4% to about $1,790, and Solana dropped 12% to roughly $70. Total crypto market value slid 4.5% to about $2.3 trillion.
Not every institution is retreating. JPMorgan's holdings of Bitcoin and crypto-linked securities are approaching $1 billion, according to its most recent SEC filing, though those purchases predate the more recent market downturn.