U.S. Bitcoin Funds See $1.28 Billion in November Outflows
Key Facts
Net outflows from U.S. spot bitcoin exchange-traded funds reached about $1.28 billion in November through Friday, Nov. 6, 2026, according to figures cited in Reuters coverage. The outflows came as the cryptocurrency faced market pressure, making fund flows an indicator of declining demand in the first days of the month. Withdrawals extended into a second consecutive session, according to fund-flow data cited in the coverage. The month had seen just one positive session through that date, on Wednesday.
The funds collectively recorded net outflows of $411.9 million on Friday. BlackRock’s iShares Bitcoin Trust accounted for $403 million in redemptions in the same session. That was partly offset by $42.8 million of inflows into Fidelity’s fund, but the inflows were not enough to match the withdrawals. The figures show that most of Friday’s pressure was concentrated in BlackRock’s fund, while flows varied across funds. BlackRock shares closed at $1,178.87 on Nov. 6, according to EL7 data.
Bitcoin fell about 5.2% over 24 hours in early Friday trading, erasing its post-U.S. midterm election rally. The price closed at $75,844 on Nov. 6, according to EL7 data. But the cryptocurrency rose again in early Saturday trading, reaching $76,103.2, up 0.59% at 03:13 Eastern time, according to the coverage. The move showed a contrast between Friday’s decline and the rebound in the early hours of the following day. The rebound came as monthly fund flows remained negative through Friday’s close.
The coverage linked weaker demand for riskier assets to a broader sell-off in technology stocks. It attributed pressure on the sector to concerns about spending on artificial intelligence and data-center development. It also cited liquidations of cryptocurrency derivatives positions worth more than $1.27 billion during the 24-hour period before the report. The liquidations included bullish positions worth more than $1.1 billion. This coincided with bitcoin’s decline in early Friday trading, amid the weaker risk appetite described in the coverage.
In a separate regulatory development in the market backdrop, U.S. Treasury officials moved to restrict cryptocurrency exchange MEXC’s access to U.S. financial institutions. The coverage said officials accused the platform of processing at least $16 billion in suspicious transactions linked to sanctions evasion and other illicit activity between 2021 and 2026. The coverage included the move among developments surrounding the cryptocurrency market. For traders, it said $80,000 represented a nearby recovery level, while $73,000 was cited as a potential downside level. These were levels reported by the coverage as traders’ views on Nov. 7, not an independent forecast.