U.S. spot bitcoin ETFs continued their losing streak last week, posting a fourth straight round of net outflows as the broader crypto market weathered its steepest correction of the current cycle.
According to SoSoValue data, spot bitcoin ETFs shed a combined 1.22 billion dollars in the week ending Nov. 21. That pushed total outflows over the past month to 4.34 billion dollars. While the group saw brief moments of relief with 238.47 million dollars in inflows on Friday and 75.47 million dollars on Wednesday, every other trading day closed in the red.
BlackRock’s IBIT led the weekly declines. The fund registered 1.09 billion dollars in outflows, its second-largest weekly retreat since launch. Its sharpest daily drop came Tuesday, when investors pulled 523.15 million dollars.
The withdrawals came as bitcoin’s price slid from about 95,600 dollars on Monday to roughly 82,200 dollars by Friday. The cryptocurrency has since bounced slightly and is trading near 87,348 dollars, up a little over 1 percent in the past day. Even with that rebound, analysts say the market still feels unstable. Vincent Liu, CIO at Kronos Research, noted that liquidity remains thin and expects bitcoin to hover between 85,000 and 90,000 dollars for now.
Ethereum products also saw continued pressure. Spot ether ETFs recorded 500.25 million dollars in outflows last week, marking their third week of declines. They reported a modest 55.71 million dollar inflow on Friday but were otherwise negative.
Not all crypto funds struggled. Spot Solana ETFs attracted 128.2 million dollars in new capital, a notable jump from the previous week’s 46.34 million dollars. Spot XRP funds performed even better, pulling in 179.6 million dollars for the week. Still, that total fell short of XRPC’s remarkable 243.05 million dollar single-day inflow on Nov. 14, its second day of trading.
The past week highlighted the divide in investor sentiment as major assets faced volatility while a handful of altcoin funds saw renewed interest. Whether the outflow trend reverses will depend largely on market stability and how quickly confidence returns.
