coindesk.com
Spot bitcoin BTC$68,598.53 ETFs, widely considered a proxy for institutional demand, have fallen out of investor favor.
These U.S.-listed funds are now in the red for the year, with $1.56 billion in net outflows, according to SoSoValue data analyzed by CoinDesk.
It happened fast. The funds were up about $1.01 billion for the year on Oct. 29. Then came $643.3 million in net outflows on Oct. 30 alone, which left them up $368 million.
Big weekly exits did the damage. The funds lost $643.6 million this week through Thursday. They lost $1.28 billion the week before and $202.6 million the week before that.
This is the 12th week this year with net outflows of more than $500 million. There were 15 such weeks in all of 2025 and four in 2024.
Four more in the last six weeks of the year would make 2026 a record. It would be a sharp turn from 2025 and 2024, when the funds took in net $21.37 billion and $35.24 billion.
The rapid redemptions explains the market swoon. Bitcoin fell below $70,000 early Friday, hitting the lowest since August.
