Bitcoin ETFs lost $1.28 billion in a week, almost all from IBIT

US spot Bitcoin ETFs lost $1.28 billion in the week to Friday, November 6, 2026, their heaviest run of withdrawals in months. Almost all of it came from one fund. BlackRock's iShares Bitcoin Trust shed about $1.21 billion as Bitcoin (BTC) slid toward $75,000.

The daily figures come from Farside Investors, an ETF-flow tracker, and were reported by crypto.news and NewsBTC on November 7, 2026. They describe a market pulling cash out of newly listed Bitcoin funds, led by the largest one by far.

One fund did almost all the selling

BlackRock's IBIT lost roughly $1.21 billion across the five sessions, close to 95 percent of the week's Bitcoin ETF withdrawals. Its worst day was Monday, November 2, with $405.3 million out. Friday drained another $403 million. Fidelity's FBTC went the other way and gathered about $93.1 million for the week, helped by a large inflow on Wednesday. That Wednesday was the only positive day across the group, at $74.6 million.

A spot ETF is a wrapper. It holds bitcoin for shareholders and trades on a stock exchange, which is a different proposition from buying and holding the coin yourself. When shareholders sell in size, the fund lets go of some of what it holds.

Put the number in scale. $1.28 billion is a lot of money. It is also near 2 percent of what IBIT alone still holds. The fund's net assets stood at $60.7 billion on November 6, spread across more than 1.4 billion shares, according to BlackRock's own product page.

For an ordinary holder, a week like this changes little in the plumbing. The coins behind the shares still sit in custody, and the fund keeps running. What shifts is sentiment. Heavy redemptions show that some large buyers, the kind who use these funds rather than an exchange wallet, trimmed exposure while prices fell.

Why IBIT swings the most

Size explains much of the gap. IBIT is the largest US spot Bitcoin fund by a wide margin, so a given change in demand shows up as a bigger dollar figure there than at smaller rivals. When sellers outnumber buyers, the fund returns shares through firms called authorized participants, which hand back a matching basket of bitcoin or cash. BlackRock set that basket at 22.64 bitcoin on November 6. The process runs in reverse when money flows in.

One detail matters here. A redemption does not always put coins on an exchange the same day. Some settle in cash, some in bitcoin, and the fund and its partners can manage the timing. Neither issuer said how much of each day's redemptions settled in cash and how much in bitcoin.

That timing gap is why flow data and spot selling do not line up neatly. A fund can meet redemptions from cash it already holds, or an authorized participant can hedge in the futures market before touching the underlying coins. So a billion dollars of outflows does not turn into a billion dollars of bitcoin hitting the market at once.

Flows followed a wider selloff

The simple reading is that funds dumped coins and the price dropped. The order usually runs the other way. Bitcoin had already turned lower with technology stocks, part of a broad selloff that pulled crypto down with tech, and the withdrawals came alongside that move rather than clearly causing it. Michael Saylor, co-founder of Strategy Inc., called November 5 a '4-sigma day' for equities in a post on social media, a nod to how rare the stock swing was.

Bitcoin traded near $75,800 on November 6, 2026, after losing the $76,000 level the day before and touching about $75,200, according to 24/7 Wall St citing Farside data. Traders were watching $75,000 as round-number support, with the 200-day average near $73,197 below it. Ether (ETH) funds leaked too, with $365.2 million out for the week.

These flows do not land in a vacuum. US spot Bitcoin funds have taken in tens of billions of dollars since they launched in January 2024, so a $1.28 billion week dents that total without reversing it. One rough week of redemptions is not the same as investors walking away for good.

What to watch

Flow numbers move fast, and one week rarely settles a trend. Ryan Kirkley, co-founder and CEO of Global Settlement Network, warned against reading a single positive session as the end of the selling, crypto.news reported. Andreja Cobeljic, head of derivatives trading at AMINA Bank, put the other side plainly: 'Simply put, ETH flows.' Her point was that renewed buying in Ether ETFs would be an early sign of institutional appetite returning.

A few things are worth tracking from here. Watch whether IBIT keeps driving the outflows, or the selling broadens to smaller funds. FBTC's inflows are the counter-signal. So is Bitcoin's defense of $75,000 against its 200-day line near $73,197. None of that is a forecast. It is a checklist.