Growing withdrawals from spot Bitcoin ETFs are putting additional pressure on the cryptocurrency market as Bitcoin struggles to maintain its price levels. The leading digital asset dropped below $70,000 on Friday, touching its lowest point since August amid weakening institutional demand.
U.S.-listed spot Bitcoin ETFs, which are commonly used to measure institutional appetite for Bitcoin, have experienced a significant shift in investor sentiment. According to SoSoValue figures reviewed by CoinDesk, the funds have accumulated $1.56 billion in net outflows so far this year, turning their overall 2026 performance negative.
The reversal has been particularly sharp over the past two weeks. On October 29, Bitcoin ETFs were still showing approximately $1.01 billion in year-to-date net inflows. However, a massive $643.3 million withdrawal on October 30 quickly reduced that figure to around $368 million.
Selling pressure continued throughout November, with weekly redemptions accelerating. The funds recorded $643.6 million in net outflows through Thursday this week, following $1.28 billion in withdrawals during the previous week. Another $202.6 million left the funds in the week before that.
The latest figures mean Bitcoin ETFs have now experienced 12 separate weeks of withdrawals exceeding $500 million in 2026. For comparison, the funds recorded 15 weeks with outflows above that threshold throughout 2025, while only four such weeks occurred in 2024.
The trend could become even more significant before the year ends. If Bitcoin ETFs experience another four weeks of withdrawals exceeding $500 million during the remaining six weeks of 2026, the annual total would reach a new record.
This marks a notable reversal from the strong institutional demand witnessed in previous years. Spot Bitcoin ETFs attracted approximately $21.37 billion in net inflows during 2025 and another $35.24 billion in 2024.
The acceleration in ETF withdrawals is coinciding with Bitcoin’s latest market decline. As investors continue pulling money from these products, institutional demand is weakening, leaving the market with less buying support. This combination of sustained redemptions and deteriorating sentiment is adding to the pressure behind Bitcoin’s fall below $70,000.
