One fund drove nearly all of the selling while another crypto ETF could not attract a single dollar for four straight days. The real culprit may not be crypto at all, and what comes next depends on a different market.
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Bitcoin ETF outflows reached $1.28 billion during the week of November 2 to 6, 2026. These spot exchange-traded funds, which hold Bitcoin (CRYPTO: BTC) directly and trade like stocks, continued to see money leave. In contrast, spot XRP (CRYPTO: XRP) ETFs took in no new money on November 3, 4, 5 and 6, marking four consecutive days with no inflows.
Bitcoin trades at $75,720, down 2.3% over the past week and 13.5% since the start of 2026. It dipped below $75,000 on November 6, hitting an intraday low of $74,722. XRP trades at $1.16, down 7.1% over the same period. So is Wall Street done investing in crypto for 2026?
A Tech Stock Selloff Triggered Withdrawals From Bitcoin Funds
A stock market downturn pushed investors away from Bitcoin funds. On November 4, Bitcoin rallied after midterm election results showed a Democratic sweep of both chambers of Congress, and Bitcoin ETFs took in $74.6 million that day. By November 5, however, a sharp selloff in technology shares had spilled into crypto, and Bitcoin fell below $76,000 as investors cut their risk exposure.
Bitcoin ETFs are held in the same brokerage accounts as tech stocks, so when money managers cut risk, crypto funds get sold alongside tech shares. That selling shows up as redemptions, where investors cash out their fund shares, and the fund sells Bitcoin or hands it back to cover them. The funds saw $430.2 million in redemptions on November 5 and another $411.9 million on November 6, the week’s two biggest outflow days.
Interest rates also play a role. Tech analyst Beth Kindig wrote on X on November 5 that “the dollar is back in an uptrend, yields are climbing.” Rising Treasury yields pay more on safer government bonds, which makes Bitcoin, a coin that pays no interest, less attractive. Kindig added on November 6 that she expects “one more large drop” in Bitcoin over the coming months.
BlackRock’s IBIT Dominated Bitcoin ETF Outflows
BlackRock’s iShares Bitcoin Trust (NASDAQ: IBIT) drove most of the outflows, accounting for $1.21 billion, or 94%, of the week’s Bitcoin ETF selling. On November 6 alone, IBIT lost $403 million, Bitwise’s fund lost $20.5 million, ARK 21Shares’ fund lost $20.1 million, and Grayscale’s original trust lost $11.1 million. Fidelity’s Bitcoin fund was the only one to attract new money, taking in $42.8 million.
Spot Ethereum (CRYPTO: ETH) ETFs also had a rough week, losing $365.3 million in total, led by BlackRock’s iShares Ethereum Trust, which lost $90.8 million on November 6. Spot Solana (CRYPTO: SOL) ETFs had zero flows on November 2, 3, and 4, then lost $1.18 million on November 5 and $25.1 million on November 6, a weekly outflow of $26.3 million.
XRP ETFs Logged Zero Inflows While XRP Fell 7.1%
XRP’s situation stands out. Its spot ETFs, with net assets of $1.34 billion, saw a minor outflow of about $530,000 on November 2 and no flows after that. Even so, XRP fell 7.1% over the week, far more than Bitcoin’s 2.3% and Ethereum’s 0.8%. Ethereum funds lost $365.3 million while Ethereum’s price held relatively steady, which suggests ETF flows didn’t decide which coins fell hardest.
XRP’s ETF base is far smaller than the $95.9 billion held by Bitcoin funds. As a result, retail traders and whales on crypto exchanges set XRP’s price. The four days without inflows show that Wall Street buyers didn’t step in to absorb that exchange selling. Bitcoin funds have seen cumulative inflows of $55.70 billion since they launched, suggesting most of that money remains in place.
Is Wall Street Exiting Crypto or Just Taking a Breather?
The week’s outflows look more like a temporary risk-off phase tied to tech stocks than a full Wall Street exit from crypto. A single fund accounted for 94% of the Bitcoin selling, and Fidelity’s fund still attracted new money, so interest in crypto remains, albeit under pressure. Any recovery rests on tech stocks finding a floor, since ETF buyers returned for just one day when stocks rallied on November 4.
XRP’s ETFs need a first day of fresh inflows after four straight zeros before anyone can say Wall Street wants exposure. For Bitcoin, another week of Bitcoin ETF outflows above $1 billion and a close below its 200-day average of $73,197 would make an exit look more likely. A switch to net inflows, with Bitcoin back above its 20-day average of $79,674, could mark this week as a shakeout.
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