US spot Bitcoin ETFs have recorded net outflows of $502 million through November 5, erasing all inflows for 2026. The funds took in $25.6 billion but paid out $26.1 billion, leaving assets at $96.65 billion, down from $113.29 billion at year-end 2025.
Bitcoin ETFs generated steady demand in prior years. They absorbed $35.2 billion in 2024 and $21.4 billion in 2025. This year's reversal matters because spot ETFs buy real Bitcoin when investors deposit cash and sell Bitcoin when investors withdraw funds.
Volume remained high. On November 5 alone, investors traded $3.89 billion in ETF shares, but outflows matched inflows. The funds lost $869.8 million between November 2 and 5, including a $430.2 million drop on Thursday. Bitcoin retested $75,000 as tech stocks fell and traded near $75,500 on Friday.
US spot Ethereum ETFs also showed outflows. They recorded $310 million in net outflows this year, with assets falling from $17.95 billion to $13.04 billion. October was their worst month since launch, with $1.61 billion withdrawn. Glassnode counted 23 straight trading days of Ethereum ETF outflows as of October 31, a record.
Not all products lost money. Morgan Stanley's Bitcoin ETF, MSBT, drew $783 million in net inflows. Citi Wealth pitched Bitcoin ETFs to clients this week despite the outflows. Banks continued selling the product. Bitcoin ETFs need more than $502 million in net inflows over the final eight weeks of 2026 to avoid the first calendar year of net outflows since launch in January 2024.