Source publication: November 9, 2026, at 17:30 UTC+8. Figures below reflect the original report’s timeframe.
Bitcoin spot exchange-traded funds recorded $1.282 billion in net outflows during November 2–6, 2026, according to SoSoValue data cited by PANews. BlackRock’s IBIT accounted for most of the withdrawals, with a weekly net outflow of $1.209 billion.
The outflows coincided with a weakening technical picture for bitcoin. Separately, Galaxy Digital research head Alex Thorn said its latest weekly close had slipped below the 50-week moving average after seven consecutive weeks above it.
ETF flows diverged across funds
Despite the overall withdrawals, some funds attracted fresh capital:
- BlackRock IBIT: $1.209 billion in weekly net outflows, leaving cumulative net inflows of $65.1 billion.
- Grayscale GBTC: $61.0081 million in weekly net outflows, bringing cumulative net outflows to $28.11 billion.
- Fidelity FBTC: $93.117 million in weekly net inflows—the largest inflow among the funds—with cumulative net inflows of $10.27 billion.
At the time of the source report, bitcoin spot ETFs had combined net assets of $95.9 billion, a reported net asset ratio of 6.28%, and cumulative net inflows of $55.7 billion.
The figures document withdrawals from the ETF category during that trading week; they do not establish what caused bitcoin’s price movements.
Bitcoin closed below a closely watched weekly average
According to Thorn, bitcoin closed November 8 at approximately $75,000, slightly below its 50-week moving average of roughly $75,500. It had regained that average on September 20 and remained above it for seven weeks.
Thorn put the move in the context of a cycle that had seen bitcoin reach approximately $123,500 at its high and $59,500 at its low. He noted that in 2011–12 and 2019–20, bitcoin also regained the 50-week average after bear-market lows before falling below it again. Neither historical episode subsequently produced a lower weekly closing low, he said.
That comparison was historical context, not a guaranteed outcome. Thorn said the technical component of his bullish view could remain intact if bitcoin reclaimed the average within a month.
Crypto fundraising participation remained below a year earlier
Separate CryptoRank figures cited in the roundup showed that 155 institutional investors participated in crypto fundraising in October 2026, up 16% from September. It was the second consecutive monthly increase after activity reached a low in August.
Even with that recovery, participation remained 56% below October 2025, when 353 institutional investors were active. Those fundraising figures measure a different activity from ETF flows and should not be treated as an offset to the reported fund withdrawals.